It possible that the market will stay low for a long time.

I don't know about other areas in TX, but I keep a close eye on Austin-SAN corridor, and I'm familiar with the market in Kyle, New Braunfels and NE San Antonio.

If you have a lot of family in OK, that can be a great place to start assessing since you have dedicated boots on the ground, as well as a reason to visit.Don't overthink the analyzing of markets when you are still figuring things out.

My lawyer suggests in a situation like this that I give them a notice that I am the new owner and that as of a certain date they owe market rent of $X,XXX.

If anybody local (especially other wholesalers) or anybody else even out of my market wants to connect, feel free to reach out!

The only two ways to rectify this are (1) purchase the property far below market price or (2) significantly increase the property net income usually through some method of “repositioning”. 

In my area these are rare so they are difficult to set market rent, and I imagine get a lot of wear and tear with a lot of occupants living there. 

It’s exciting to hear about your plans to dive into this field, and Chicago is a fantastic market to explore once you move there.It sounds like you’re on the right track with your interest in House Hacking, Mid-Term Rentals, Short-Term Rentals, and the BRRRR strategy.

Most of the ones I bought had existing tenants and almost all were paying below market rents and way below market rents.

I spent $1,011.97 for Lee's Reverse REO class ($997.00) and his How to Achieve True Wealth (Digital Only - $14.97) Learn the Secrets of The Wealthy and how Lee Arnold built a multi-million dollar private money lending organization on March 2, 2023.