The upgrade basically put a target on my back with the fire marshall as he came by to inspect the work and found that there were a few compliance issues.

If you're targeting Section 8 tenants in Chicago, I'd suggest listing at the fair market rent of $2000.

Our target towns are not in the urban centers but more suburban towns with good schools are moderately priced homes for families.

Those properties that are obviously vacant - as well as those you advertise for 'immediate occupancy' are well-known targets of squatters. 

With $50k, you likely have enough to get started, especially if you target lower-cost markets or use a strategy like house hacking.

I’ve had to widen my search radius to smaller suburbs or target properties needing light cosmetic work to make the numbers work.Value-add opportunities: Adding amenities tenants love, like finished basements or upgraded kitchens, seems to justify rent premiums in this market.Navigating the competition:Be creative with financing: Seller financing or partnering with other investors has been helpful to secure deals when conventional offers didn’t cut it.Work with local agents and wholesalers: They often have their finger on the pulse of off-market opportunities, which is critical in a hot market.For those new to suburban Chicago investing, I’d say the key is finding the “sweet spot” neighborhoods—ones on the rise but not yet maxed out in price.

I will throw this out there, but you do NOT need 40 doors to reach your financial targets (unless you're wanting a massive amount of monthly income). 

Focus on the big moves: security, renovations, and cutting dead weight. 

This seems to be breaking down new construction and is a national average so kind of hard to read into this what it means in general but I would not expect a 665k new construction house to be my target for a rental property. 

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)