@Michael Baum how many Short-term rentals do you manage this way where you are on call all the time?

in a stick frame market and one of the cheapest markets to build we build with margin at $190 or so a square foot. that will go up over time about 5% or 10% a year to keep up with new build price increases. we are buidling a 3 story walk up and source some of the lowest priced crews.

Amateur investor/full time agent here. 

At that time we could renovate the ground floor apartment and potentially turn it into (2) apartments for a total of (5).My questions come down to how do we deal with the existing 40k mortgage, whether we can make it work so her parents aren't paying much in rent, if anything at all, and whether or not we set up any legal entity, like a trust to help the legal situation of paying off her sister down the road. 

He gives an example of 123 Main street (total profit/total invested capital)/time in years.

I come across SFR in other states from time to time direct to seller. 

•Every time you fill a rental, you open the door to a conversation about full management services.

This is a question that has come up a million times and will continue coming up forever in Chicago unless eventually things change one way or another.

This happened to me multiple times. 

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.