I will explore the refi avenue to access the equity.

That being said, it can be the most satisfying and cash-flow-positive business around. 

Alternatively, restructure the loan with equity participation for potential capital gains treatment at lower rates.

Our end goal is to get it paid off for cash flow and use the equity to buy another house.

It’s a great way to grow faster.HELOC or Equity Tapping: If you have equity in another property, using a HELOC or cash-out refinance could help cover the down payment without affecting your DTI as much.Seller Financing or Creative Deals: Look for sellers willing to finance directly, which bypasses traditional mortgage qualification hurdles.Scaling quickly often involves combining strategies—play around with what works best for your goals.

@Dominic CampeloWith your contracting expertise and business growth, you’re in a fantastic position to enter real estate investing.

& thank you especially for the positive affirmation, Collin!

Given that I'm not positioned to buy just yet, and simply running the numbers, is there a rule of thumb for estimating insurance costs that would make sense in Cook County?

The investor who bought this home owns an asset that is cash flow positive from day one and one that will benefit from all 5 profit centers of rental property investing for many years to come.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.