I have minimal plumbing experience and thought it would cost me way more than what the actual bill was.

I think comparing to the two-- syndications vs index funds-- is too difficult because of the nature of the specific RE under the syndication versus the broad economy(global and domestic) the index funds capture.

Sewer issues in Chicago are very common which is why I ALWAYS recommend / almost require my clients to get them done + if there's trees in front or in the back of a property, there will almost always be plumbing issues + needed rodding. 

If you're pulling a permit already for plumbing changes, just get the permit for the room conversions at the same time.

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., major systems like plumbing/electrical)Full Gut/Studs Down: $85-$120 per sq. ft.Luxury Finishes: $150+ per sq. ft.However determine the Rehab Costs are only a part of analyzing a deal, you also have to focus on determine the After Repair Value of the property in the specific Area/LocationIf you’re focusing on specific markets and ever want to discuss analyzing deals or strategies, feel free to connect, Our firm would love to help you!

The need for building permits in the counties is limited to plumbing, HVAC, & electrical. 

I've offered to rent W/Ds to tenants in the nicer neighborhoods as I can buy a used set for $40 and rent them for the same price per month, but the tenants typically have their own.I'm also entertaining the idea of getting a whole house service contract for all appliances including the AC, plus plumbing. 

Property details: 3 bed 2 bath both sides with attached garages, aluminum siding, copper plumbing, 1972 construction, separately metered, all electric water heater, range, dryer, public water and public sewer on a slab foundation in a great school district right next to brand new construction everywhere.

The reason for this is because most mechanicals electric plumbing are more in line with today's code, and a lot of these properties typically need more cosmetic type of rehab.