Keep in mind the potential for higher renovation costs due to older properties and the local landlord-tenant laws.Good luck!

- Are you open to value add / renovation deals?

The one's I prefer handle everything in house, from purchasing the home, renovating it, renting it, then selling to an investor then managing for them on the back end.

I love that you have specific goals for 2025 - I believe if we think it, write it, say it, and share it our goals are 10x more likely to come to fruition.Are you able to do option 2 and just house hack a 2-4 unit building and use a renovation loan which allows you to put down 3.5-5%I highly suggest getting to some local chicago meetup groups (we have an in person one on the 17th)...here is BPs list: https://www.biggerpockets.com/forums/521-real-estate-events-...I also have a full list of the chicago meetups that I can share with you too if that'd be helpful.

Purchased on 4/19/2024 for $20,000, we invested $45,000 in strategic renovations to transform the property.

Hi I had my property manager handle my renovation on a unit in Maine while I am living in Connecticut.

Thats a great way to profit of $177K in a year but she did know the contractors and the has an eye for those type of quick turn arounds.You will see multifamily 2-4 units a ton of duplex 2 units for under $250K again these are usually not turnkey fully renovated properties but they will pass an appraisal without being subject to any major repairs.

I have renovated with contractors and some DIY.

I lived in and renovated or renovated and rented.

Pilot a unit or two with this renovation spec and see how much demand you get from QUALIFIED applicants.