Evaluate Property ConditionOlder Chicago buildings often have charm—but may come with hidden costs.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

A $107k NOI with a 43% expense ratio is impressive, even with rising costs like taxes, insurance, and utilities.

The cleaning costs alone were over $9k.

Consider that you could end up owning the property.)Vacant Premises: You don't want an eviction.

.), and anything else that is important to them.Ask follow-up questions to dig deeper and learn more (without being too intrusive) then jot down any relevant notes so that you can reference them down the line during your follow-up calls.

Once the TSMC is really up and running, it will only amplify that.

you may have to save up until you have enough money to do so - down payment, closing costs, reserves, etc.House Hacking: What Is It, How to Start, and Strategies for Successit's a more powerful way to get started. 

We found a property in a neighborhood we really like that had a "For Rent" sign.

Set up a basic system to manage your listing, update it monthly, and always ask guests for feedback—and don’t forget to casually ask for that 5-star review!