In doing this I earned about $150K in equity from the get go, and I'd like to use the house to build further equity as the area cooks and then 1031 exchange in 2-5 years and buy something larger. 

I know this because I was screening people recently and came across someone who had a conviction on their record, I think it was in McHenry county so I would think such a thing would exist in Cook as wel.

I've looked at some deals in Lake and Cook County that cash flow $200-$500 & are 2-4 units.

Don't use your student loans to inflate your lifestyle...Continue to live like a college student even after you graduate - have roommates, cook your own meals, buy used reliable stuff only when you really need it.

@Jarrod Cook I appreciate your honesty about the lofty aspirations of my goals.

The houses generally predate air conditioning and it was too hot upstairs to cook, so there was a kitchen, usually smaller than the one on the main floor, for quick summertime meals.Still a single family.  

I called Cook's Pest Control.Me and my uncle just pulled out the decrepit sink and undercabinets and found the rat nest.Smells of vomit, mildew, & hot zoo animal urine.

@Jarrod Cook I will contact you directly.

I was wondering if any of you had thoughts on the high tax reassessments in Cook County and tax increases in Chicago?  

Being I didn't do that, and instead drove slow through he ice we're getting pelted with and then cooked some supper; I thought for sure any lead would be long cold (other agents in my market are starting to wise up...).