@Garry LawrenceDevin Moreno has a bunch of videos on rent-by-the-room strategy in Baltimore on hisYoutube channel.

Our lease contains a clause stating the security deposit cannot be used for the last month's rent. 3.

Chicago, with its vibrant neighborhoods and strong rental market, is a prime location for this strategy.

----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Hopefully rents start going up 2nd Qtr and into 2026 and 2027.What price range do you want to be in? 

Purchase price: $3,636,000 Cash invested: $700,000 This is a brand new 40 home build to rent manufactured housing community.

Here you are basically hitting it without needing to manage a property in another location.

Hello @Timothy Hilario,I think there are benefits to both strategies.If you move out of your apartment and rent it as a mid-term rental, you could see decent cashflow without pulling equity out of the unit.

Would it generally be a location that tends to have a higher cost of living? 

Once you go above $125k/unit you start to get into the high end areas that won't have very good rent/price ratios and are under the 1% rule mark for turnkey stuff.Neighborhood wise in the city the "East End" is where the most expensive real estate is since that's where the universities and a lot of the hospitals are located.