I jumped into real estate doing the BRRRR method, understanding that holding property will allow me to build generational wealth, but then learning that landlord income is not the best way to feed your family.

It sounds like you’ve got an exciting plan mapped out, and I love that you’re thinking of starting a property management business while building your own portfolio—that’s a smart move.

House hacking is going to be a great starting point to building your wealth that you can leverage in the future. 

Based upon the cost seg studies of my clients, a building will typically yield 25-30% of the total cost that can be segregated into personal property and land improvements.

I'd like the building to be within 10 minutes walking distance from a Brown Line L stop, ideally in Lake View, North Center, or Ravenswood.

Any other books you would recommend to someone completely new to real estate investing but who would like to build a solid foundation going forward?

Want to buy an old commercial building or gas station that had leaking PERC or leaking gas tanks? 

It sounds like you've been through a challenging process, but it's great that you're continuing to build your portfolio!

I am just starting to focus on building our portfolio and growing it hopefully successfully the next 7 years. appreciate the insight, Scott. 

Assessments in NJ are not done on sale, unless it's a new build or a complete renovation where the permits tip them to reassess, so every three years or so they reassess all of the properties and taxes go up most of the time.