Probably my fault for not doing my due diligence, but what kept me afloat, barely breaking even was the second floor tenant set the law unit above him.

k=Zinus+bed+frame&i=garden&...I had a wood Zinus frame break at the corner.

Your experience so far aligns with what I’ve seen: finding financially stable long-term tenants can be challenging, and turnover or lease breaks do happen due to the seasonal nature of the area. 

Tenant breaks something - why'd the PMC let that happen?

Love your love for Chicago and I completely agree.Highly suggest you break your post up into several paragraphs...it's tough to read, so I could only make it about halfway through...Regardless, still a huge Chicago fan here!

They break down inspections, rents, and how the program actually works in real life.

If you are sizing your deals solely on rate or if the rate is breaking your deal, it's not likely a good deal to begin with.   

if you can live in it for a few years and then break even when you move out, that's a huge win. 

if you had put a much lower amount down, and were break even or slightly negative, that might be OK - you're building equity without much capital tied up. 

Hey everyone — I’m researching how closing transactions actually unfold behind the scenes.
I’m not selling anything — just trying to learn directly from people who buy, sell, lend, or close deals.
For those of you w...