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.

So after 1.5 years of searching, putting in offers, losing deals after inspections, yesterday I finally closed on my first investment property.I put together a document of all the lessons I learned that I did not know prior, despite countless hours of investigation on my end. 

I live in the western suburbs of Chicago and just beginning my journey on rental properties through the Brrrr approach.

Or they were randomly approached with an offer that was too good to refuse (an unsolicited offer is gold!!)

While this approach works in the early stages, there comes a time when consolidating all your properties' insurance into a single, scheduled program might be more beneficial.

Most likely that property will be higher than your 3% mortgage so you can either start to pay that new property off OR stack cash to find the next house.The best low-money down strategy for this approach is using the owner occupant financing every 1-2 years.  

Looking forward to hearing how everyone approaches these challenges and learning from your experiences.

Majority of our landlords don’t want the section 8 approach since it is so time consuming to get approved and get a tenant in however they tend to be the more long lasting tenants and then you never have to chase your money as long as you maintain the property 

This approach is seems so wrong and has discouraged me from expanding my portfolio in Philly.

It’s a solid approach, especially if you’re working with a smaller budget.