I'm a Ricky fan and also Brandon, they really preach cold calling/prospecting.

Both properties fall into Class B- category and has no HOA and no rental restrictions.Here are the details for each property:Property 1:3 Bed, 2 Bath (1020 sq ft)Purchase Price: $250,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $50,000 + $30,000 (rehab) = $80,000)Projected Rental Income Post-renovation: $2100/monthProperty 2:2 Bed, 2.5 Bath (1168 sq ft)Purchase Price: $230,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $46,000 + $30,000 (rehab) = $76,000)Projected Rental Income Post-renovation: $1900/monthThe location is moderate, with amenities like shops, restaurants, a mall, and a baseball stadium within a 5-mile radius.Considering buying both as they are in the same building, the total cost and income overview would be:Total Price for Both Properties: $478,000Down Payment & Closing: $96,000 + $10,000 = $106,000Total Renovations: $60,000Total Price (Including Renovations): $478,000 + $60,000 = $538,000Total Out of Pocket: $166,000Projected Gross Rent Monthly: $4000The rate of interest for the mortgage is 7.5%.I am currently evaluating: A) The break-even point for two townhomes considering a cash investment of close to 32%.

This means more time and money spent on marketing and preparing the property for new tenants.Wear and Tear: Student tenants may not take as good care of the property, leading to more frequent repairs and maintenance.

If you can swing it and are willing to do what it takes to not lose the property if sh** hits the fan, then I would highly suggest purchasing in a more desirable area. 

Frequently agents will list properties at elevated values just to get the listing. 

@David C Heiling and @Kristen Petrosky - I am big fan of Chicago too!

This gives you a high bounce rate and Airbnb will change this frequently.

We all know what happens when "gurus" get the bois shilling crypto, only fans and then real estate programs.

I know "change of use" frequently triggers major expenses like seismic retrofits, insulation and fire code updates.   

Just a questions since this comes up frequently on these forums: why in earth do you care about cash flow if you’re buying a $600k property all cash?