Let the GPs do the work and you reap the reward of their hard work and their expertise.Here are some of my thoughts about residential RE investing:- The market is more challenging than in many years. 

I know it's probably rare for someone to be looking to buy an investment property before their own residential.

As you may have been aware, this residential property will be purchased by me on [CLOSING DATE], and the resulting change in ownership will take full effect on said-closing date.

Have you done any commercial land development or just residential?

Residential 1-4 does not get cap-rated. 

Hi @Kathleen Park - Some of the best advice was provided above by @Paul De Luca...check the Chicago Residential Landlord Tenant Ordinace (LRTO). 

So, the residential property would need to be traditionally rented (whole unit/house) for at least a year before rent-by-the-room income would count towards gross income? 

Imagine close to dense residential plot and required to invite all residents for public hearing - it will be a headache to go through.3.

Hi, My name is Haiden, and I'm looking to purchase my first residential investment property within the year.

I recently bought my first residential property (a condo) in the burbs just north of Chicago.