For instance, a close buddy of mine in Chicago told me about a client of his who pulled out equity from a sleepy duplex and funneled it into a fourplex near Logan Square.

These don't require you to live in the property, so you could close with the existing tenants in place and then move in once their leases expire.

Most lenders are going to want to see a few big things from the ownership group. 1) The borrower will be the enitity (LLC, S-Corp, etc) and any owner with usually 20% or more of ownership in the entity will be expected to guaranty the loan, 2) We'll want to see some experience doing similar projects from at least one of the main owners, 3) We'll want to see bank statements showing liquidity enough to cover the intial cash injection (down payment), the closing cost, and some cash in reserve.

Before deciding, run the numbers to see how much you’d net after closing costs and fees, and compare that to holding the property with the current rental projections.

Rex (Real Estate agents and sellers to optimize listings, attract buyers and close deals efficiently) 5.

Anyone know if there is an accessible list anywhere for code violations open and or closed cases?

I will close by saying I am not expecting a be a multi-millionaire by next year following someone's system.

I am currently invested close the Marywood University where I do have a combination of family and student tenants. 

Our thought process, is that we should purchase a property in the villages or very close by as this is a very good middle ground for the said areas above.

If you go in swinging for the fences, don't be surprised if you strike out.