Start by educating yourself with foundational books like The Millionaire Real Estate Investor and practicing deal analysis using tools like BiggerPockets calculators.

But, will likely put in the dishwasher next go round.

I actually like them because the homeowners' association (HOA) usually covers most of the insurance, and there is very little maintenance required.

My strategy incorporates asset protection measures like LLCs, specific trusts as well as professional property management to spread risk and ensure quality operations.As well as using tax codes to my benfiitSection 179, IRC Section 162, Cost Segregation and Bonus Depreciation and later 1031 them out for larger projects. 

Additionally, high-income earners with modified adjusted gross income (MAGI) over $250,000 (married filing jointly) may be subject to the 3.8% Net Investment Income Tax (NIIT).For 2025, bonus depreciation is at 40%, so consider leveraging it for eligible property assets like appliances or fixtures to accelerate deductions.

You can't take six months off from reviewing properties and hop back in like nothing happened.

There will likely be dozens of follow-up calls so don't be discouraged if you can't close someone upon first contact.All the best!

Congrats on your lot purchase in an awesome Chicago neighborhood like Humboldt Park.

Just like how Johnson & Johnson or Coca-Cola send you quarterly dividend checks, your tenants are sending you monthly "dividends" in the form of rent.

How are you liking it?