The best defense against rats entering your property is to seal off all entry points (holes, cracks in walls), remove food sources (dirty dishes, food left in trash cans), and water sources (like leaks). 

Most of my CFO clients that are in residential development are looking for IRRs (usually over a minimum 5-year period) in the high teens and the commercial developers are looking in the low to mid 20% range.

Interest rates are pretty universal across country, you are in a high demand, high cost area.  

It's short sighted because it sounds like there is a high likelihood this current tenant will pay. 5.

Taxes : Taxes have been a brewing crisis nationwide for sometime, Chicago is another prime example of a major municipality struggling under high debt load.

Now that is a very high level example but the appreciation is not gone if that makes sense you will capture the ballpark same appreciation if the properties are comparable.  

The payments and interest are high.

Quote from @Jules Aton: If you are doing high grade laminate that should be good.

If you do something that is too high end or bold compared to what is available in the neighborhood, the exit could be very difficult 

Use caution when borrowing against your stock portfolio, especially if it's a high volatility portfolio comprised of individual companies.