If you're willing to be live in one half and rent out the other then you'll have a better ability to make it work out for you.We've focused on finding distressed properties and then flipping them, but we're able to make the numbers work since we do a lot of the rehab ourselves.If you have any questions feel free to message me!

This strategy requires knowledge of local markets, renovation costs, and the ability to manage or oversee renovations.I am a loan officer and I could advise you on how to tap into that equity and put that money to work.

Yes, it can be a vague picture but still, if someone tells me they have been in for 3 years and have 20 doors, at the very least it tells me they have ability and aptitude.

The biggest concerns are external factors from the president, the president did not have play in the S&L crisis back in the early 90s, and same for the 08 crash; the president did not effect that or have the ability to play a role in it to see the large down cycle. 

Loan officers and underwriters aren't accountants, nor should they have to tease out your actual ability to service a loan, in my opinion.  

This is despite the higher turnover rate (creating more expenses) and adding 30 units to our portfolio.Increased customer service - The office and phone are maned 9a – 5p, M – F to give our tenants the ability to text, email, call, or walk-in. 2.

Sales ability to convert prospects to  leads and leads to deals3.

This could limit your ability to refinance in the future to lower your payments.Rental Viability: Renting out a very new home (built in 2019) may not be ideal due to potential wear and tear concerns and the fact that it's less likely to need significant repairs or updates that tenants often expect.Local Market Considerations: Chicago's property market is known for high property taxes and historically slower appreciation compared to other markets.Financial Necessity: If you don't have a strong financial or personal reason to move, such as proximity to work, family, or lifestyle changes, it may not justify the hassle and costs of buying a new primary home.I am a loan officer so feel free to reach out to me directly if you have any other questions or would just like to discuss!

I could review the stuff for the day or week and adjust the categories then if needed.I used a single CC for supplies, and a single checking account for all labor. providing the ability to match back expenses without having to check a bunch of different accounts.You could do this with different cards for each project, and a labor bank account for each project.

@Marisa VoelkelI think having properties in their own LLC is not necessary for the reasons that @Andrew Syrios and @Benjamin Aaker mentioned.It depends on your risk tolerance and ability to keep organized.