The day after you close, it will appraise for the sales price. 

Value and rents should eventually increase to turn cashflow positive and build your wealth.You're next learning experience will be, now that you are out of day-to-day management, how will you be able to handle the inevitable expense challenges?

Quote from @Dinesh Nair: I am a Canadian investor with a US corporate entity- we closed on our first property and now working to find financing through a lender… however rates keep changing all the time.. is there a site to track rates ? 

Quote from @Jay Papasan: Quote from @Jose Alonsoo:Good after noon real state family.I have an opportunity to but a sub to property right now.

Pay a GC and take them with you on walk throughs.

From what I've seen in this area right now, it seems like you'd have a hard time paying market LTR rents and making a good spread. 

My Chicago mentality has only grown because I continue to grow and build a stronger network of A players here in the city!

I'm a new real estate investor and I recently picked up Brandon's book "Rental Property Investing"..

This is a great place to learn and further investigate investing in real estate.

Or buy a single family and house hack bedrooms or a portion of that property.