.✅ Stronger Tenant Relationships – Being involved directly allows you to build rapport with your tenants, which can lead to better communication and longer leases.Cons of Self-Managing❌ Time-Consuming – Dealing with maintenance requests, late-night emergencies, and tenant disputes can quickly become a second job.❌ Legal Risks – Chicago has strict landlord-tenant laws.

He can spend the next few years-ish getting a finance degree through an online school while working part time, but he just got offered a full time position helping with sales for a local wholesale real estate company. 

Any guidance would be most appreciated, so we can be better prepared for our tax returns next year.Thanks so much for your time !

@Argel Algura.Congrats first on your last.year and how much you have accomplished in a short time period. 

Keep in mind that all this time we were living with my parents paying them rent but saving/starving to score our next deal. 

In this post, I will explain the criteria and the information sources.Income requirements for financial independence:Rents increase faster than inflation: Inflation erodes the value of money over time, causing prices for goods and services to rise.

We've provided this proof MANY times and had cases dismissed against our clients.Your PMC could have handled this better, but since you took over the process, you probably have no case against them.

With an owner-occupied loan, you can buy a house with 0-5% down and get 30-year fixed rate financing so you're not dealing with adjustable rates if rates go back up and not dealing with a balloon payment in 6-24 months which is plenty of time for an experienced investor but not a whole lot if you're new. 

A close friend of the family ,who was married, and had a house together got divorced and in between that time, she did a QC and removed her name from the deed.

Reducing risk requires at least some time spent in research and involvement in a deal.There are many other things you learn along the way as well.