., mortgage interest, taxes, repairs, depreciation) on Schedule E starting when the property is placed in service.

For the property I purchase, I’d like to keep my monthly mortgage payments at $2,000 or less.I prefer a turn-key property since this is my first rental, and I want to start generating monthly cash flow immediately without the delay of repairs or managing two mortgages.

I just completed my 20 hour course for my Illinois Mortgage Lending License and the final step is taking the state exam.

Floating rate loans may help cash flow early in deal, but put a lot of risk into deals. 

The money borrowed from your equity comes with interest, then you have the new mortgage with interest.

Rocket Mortgage is headquartered downtown as is Ally Financial.

That means it takes forever to pay off the mortgage meaning you're paying a mountain of interest. 

The mortgage is $1800/ month, but I am looking to refi and pull cash out to finish the ADU and lower my interest rate by 1-1.5 points.Lessons learned?

So with interest rates high...

Rent, Expenses, NOI, Cash Flow, COCR, Cap Rate, Market cap rate.