My low months were 50-65% occupancy and 100% for summer.

I'm currently planning to purchase a commercial multifamily building in Chicago with the proceeds of a 1031 exchange.

Hey Drew, get yourself an engineer to provide you with a report on the current conditions and the repairs needed.

If fully updated, market rents could be 5K a month plus utilities etc.The office space is currently being used as a medical office and it's a block from the hospital so there is always a good pool of rental candidates. 

Quote from @Mary Jay: Quote from @Jay Hurst: Quote from @Mary Jay: hi guys,so I have a lot of equity in one of my rentals but the interest rates are super low on it. so I dont want to do a cash out refinance on it because I dont want to lose the 3% interest rate on it.I want to get some cash out of it via Heloc or another vehicle,  so I could buy another rental, but its not my primary, so I cant get a HELOC on it from lots of banks....I think PenFed does helocs on rentals, but because I have more than 5 rentals, I dont qualify for their HELOC loan.IS there a bank that would give a HELOC/cash on a rental?

Quote from @Marc Zak: Hello BP community,I currently own two LTRs (one in MS and one in CA), and will hopefully soon own one STR (CA).

If the septic is only for a 2/1, then the county/city wouldn't approved the expansion as the current septic doesn't work for it.Most likely this would be a pass.

Many of these lenders allowing 2nds behind them are more expensive capital (10's - 13's in our current market [high rates - but now showing signs of coming down]).

Investors need someone who can stay with all the market movements and have the best lending solutions for the investors current goals. 

There are definitely ways to make money in real estate without needing initial capital but I would say those are fewer and less likely in the current market.