I think you have found a way that works, but if holding that debt is extremely expensive it may not be worth it. 

Depends on how extensive the remodel work is, a cosmetic flip paint, trim, cabinets, vanities don't trigger permits here in WA state. 

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

I believe when you add a 3rd unit they do some extreme things like require you to add fire sprinklers throughout the property which is prohibitively expensive.

I am extremely hard working and will do whatever it takes.

One disadvantage of mini-splits is their inability to work effectively at extreme low temps, which we are bound to get a handful of times in Chicago.

The contract he signed with them was extremely pro seller, and I think he figured he would eventually foreclose/evict them and we would never know.The guy was a joke, fraud charges were filed by the DA on him, but going after him for any money would have been a waste of time.

You would rake out the loan for the property in your own name, then transfer the property into the land trust (which does not trigger the Due on Sale Clause because of the St.

Hello Ilya,Where are you looking at purchasing your 1st property.When converting a property from a single family to a multi family, you will need to check on the zoning requirements, depending on your location, not every location has zoning.As far as lending goes, it is far easier to finance a single family up to a quadplex, than financing 5 plus units, the DSCR Market for 5+ units is extremely low right now, and there are few if any lenders in that space.For financing 1-4 units, there are Millions of dollars chasing those loans, so you can easily obtain long term financing, at rates between 5-7%.Please reach out if you have a property identified, and I can help you with financing options.

I have an MBA, spent years learning about RE before I pulled the trigger.