It ended up being a check-mark recovery with rents recapturing their 2015 levels and then rising even further.One last observation about the market:  during that late 2015 to mid-2016 downturn, ~76% of the rigs in the Basin where shuttered. 

Hi,I am planning to buy a property (first-time buyer) in Chicago suburbs, and few things that we have observed are that despite Covid-19 impact on the economy. - housing prices are very much the same as last year- # of properties available in the market are a little limited- sales cycle time (from coming to the market to going to contingent) is relatively short. e.g., houses that we were following were gone within a few days.Online-experts suggest the housing market to nose-diving around Aug'20 till the end of the year, and then it is expected to recover.

If you've not been to one a good first step may be to go to a Sheriff's sale just to observe. 

That's of course the challenge with data - it can be a slippery slope, which is why I don't draw hard conclusions but prefer to observe and just remain generally aware of current trends that we see.

Shout it from the rooftops!

My ultimate dream is to add a 3rd unit (ADU), garage to fit an Earth Roamer campervan (29ft x 8ft), a den/family room for the main unit, and a rooftop deck that can get up high enough to see the skyline/mountains (28ft) but zoning looks to be holding me back. 

Every trade needs someone to lug 2x4s or haul shingles to rooftops.

Observe the site, the organization of the site, the workers attitude to the work.

Its great you have connections to assist with the every day - right now, though, while you're looking at the financial aspects and wanting to make sure the numbers work - connect with local REI professionals such as real estate agents, property management teams, and lenders who can help provide insight to the market, as well as what they observe others are doing in the same market also.The majority of the folks we work with now are out of state and the number one issue is finding the right market for their REI model... and then finding lending... being able to run comps and assess your numbers will be key in making sure you buy successfully.

Tax records, a profit and statement and I believe they ask for access to your bank account records for verification is what I've seen in my observation, **but of course, I'm not a lender so you should double check with someone who is ; )**