Hi BP Gurus / Seniors,I am new to the REI and placed an offer for my first multi-unit property.Here are the details.Area: Near by Shabbona Park, DunningNumber of Units: Legal 3Built: 1950Price: $455,000 ($450k (purchase) + $5k (Minor repairs: Nice to fix but not an immediate need))Loan Type: Conventional (20% down & 2.5% interest rate)Annual Gross Rent: $38,400 (Tenants pays Electricity + Gas)Annual Expenses (Property Tax + Insurance + City utility): $10,000Parking Space: 3 (Garage – 2 & Side Pad – 1)Other details: Exterior Brick, free laundry in basement, all units occupied and it is a turnkey property.Pros: Steps away to CTA Bus Stop; Good Elementary school (PK-8); Walkable to Shabbona Park Recreation, Restaurants and Grocery Stores; 10 mins drive to Schiller Woods; 15 mins drive to Airport & low crime to visit the property any time confidently.Cons: Below average High School & 20 mins CTA Bus to Blue Line.My Situation: I will be in Chicago area until next Summer and relocate to Texas.

Now, because you have that 1 k left in your pocket you can cover one rental properties note until you find another tenant no problem.However, let’s say BOTH tenants leave out of the blue.

It is filled with landscapers and blue collar workers getting their fill for the hard days work.  

The work that needs to be completed:Gutters Binder coat on drivewayBring front walkway step height to codeExpand landscaping, and add "ornamental" treeFix stonework on front facade with sub par installation (They tried to get me to re-side the whole house a shade lighter already and I told them no)What would you do?

We also bought a tiny little cottage in Blue Rocks NS.

In 's general, blue collar folks, folks with lower income, folks just moving out of ma and pa's place. 

Even in blue states there are exceptions to the eviction moratorium. 

And you can light a gas stove with a bbq lighter (for cooking, not heating/burning the house)If the house is all electric, well you need to bring the “power plant” to the house to run anything...Oh, interestingly some people dont like gas stoves.

I get a call out of the blue from the former owner, who I have never met, who says he got a bill for the property for the last few weeks for $75. 

I come from a blue-collar family whose patriarch was often unemployed due to multiple factory shut-downs so the only money advice I was ever given was to get a good office job and invest in my 401k.