I also have all the resources and referrals you might need in order to make and maintain your investment

I didn't screen my property manager because he was a referral.

Hey @Henry Lazerow - I would tend to agree that most of the NW side of Chicago 2-4 units don't play out perfectly well for BRRRR deals.I always looked at any potential house hack vs. having to rent - if my overall payments were less than the rent I generally considered that a win.For me...the house hack is just the ticket into the amusement park and then the fun rides come after...getting started can be overwhelming and hard so I can see why people might take a discount.I think one of the keys to strong equity creation is square footage creation which is basically what you outlined with duplexing up or down.

I tend to expense everything that is "necessary and ordinary"If it's an extreme outlier position that most other real estate investors would not deduct - then I opt not to deduct it.

Cosmetic kitchen and bath work always tends to increase your ARV, but the question is always how much does the ARV increase compared to the cost of the renovations.

In that situation, would you just try to find someone trustworthy enough to give you a referral fee say, instead of a formal contract assignment and have them just write up the offer so you aren't tied to it?

And I actually like the ones that I have to dig harder for because they tend to be even better deals.   

I am aware of the other depreciation such as the sold unit itself and any other depreciable assets.I used the flooring as an example to keep it simple as providing too much information for a simple question tends to get too far off the answer. ;-)

Median asking prices in 2024 are at $734,950, an increase of about $35,000 from last year.As small multi-family investors in Queens and Nassau get outpriced, they, like traditional homeowners, tend to travel East or North.

Also the price points tend to be a bit more in there.