.✅ Master Lease Option (MLO): Take control of the asset with an option to buy after stabilizing revenue—especially useful if the property is underperforming.✅ Equity Earn-In: Offer the seller a minority stake (e.g., 10-20% ownership) instead of cash up front.2.

I understand the two main downsides of condos being monthly fees out of your control and little appreciation. 

Off-market deals give you control over pricing, terms, and creative financing options.

Chicago has a fantastic real estate community, and there are plenty of networking opportunities.

Louisville is fantastic for cash flow and is a safe place to start since we don't typically get caught up in the roller coaster effect of steep appreciation followed by sudden pull backs when the market isn't red hot.  

This is a significant potential benefit that can impact everything from security deposits to rent controls to eviction procedures. 

This means I get a ton of applications but Zillow also makes it easy to deny and sends them the denial letter which is fantastic in my opinion.

@Henry Clark When counting units and sizes in step 1, should climate controlled units be excluded if someone was to only target the non climate controlled drive up market?

As mentioned, that is not in your control. 

It's determined by the nature of your arrangement, mostly by how much you control the employee's work.