Basically, the further you get away from the city the more potential for cashflow, but you're also dealing with a different tenant base that may be tougher to manage.

@Zach Howard there is no agreed upon Classification in the 1-4 unit market.We've done our best to logically create a system for our market, mostly based upon relative sale prices, but also using crime rates, rents, occupant income and a few other variables. 

I'd link up with some of the awesome agents above like @Eudith Vacio or @Edgar Barbosa and have them guide you through the city and what it has to offer based on your buying criteria.

Based on a quick answer from Perplexity it seems like there would be no issue with you buying the home and collecting passive income, but you may not be allowed to manage it yourself since that is considered active work.

It would be based on the scope of work of the renovation that you're doing comparing for values in its as is condition and values after rehab 

@Gary Abrams A cloud based solution would work really well in your scenario of having other family logging in and helping with management. 

In previous roles, I was responsible for the asset management, capital improvement, repair, and maintenance of an ANG Fighter Base worth over $400M.

while i do think it's valuable to analyze properties, it's really difficult to underwrite based on photos. 

However, this is not specific legal advice to you, just an opinion based on the circumstances described.Do I Need an LLC to Invest in Real Estate?

Happy to connect as well as I'm based in Chicago.