This could make the sale more appealing by solving a logistical challenge for the landlord.Things to Keep in MindUnderwrite Conservatively: Make sure you account for all costs, including property taxes, maintenance, and potential repairs.

Let's say at 6% over 30Yrs will be about $960 per month(Principle/Interest) with the remaining  interest only portion $40K costing roughly $200 per month. $1500- $960 + $200 IS $340Cash in your pocket after everything roughly $1500-$1160-$340 which is not bad for a 100% financed deal(INFINITE RETURNS)Now, If you ran this analysis on a 1% deal as @Nicholas L. mentioned you will undoubtably end up in the red each month.All the best!!!

Looking for something with low acquisition cost, and meets or exceeds the 1% rule.  

However, your lending choice will ultimately determine the best route, as rehab costs may consume a portion of your $50,000 investment budget.

This lowered my cost basis per lot by 7k.

My father is a contractor so we will be able to complete most of the work ourselves while keeping costs low and add equity.

We abated the walls, and that added $10,000 to our costs.

I wondering if I can deduct any of the repair, closing cost and deprecation on taxes. 

.✅ Knowledge of Chicago Rental Laws – A good property manager stays up to date on local laws, helping you avoid costly legal mistakes.✅ Maintenance & Repairs Handled – No more emergency calls at 2 AM about a broken water heater!

In my business for example we texted about 35k people last month and got 163 leads and about 3 contracts out of that.What does that work out to "cost per contract"?