I know I can go through a lawyer but I was told it is a fairly simple process hence want to DIY.Regards,Xuming

I am honestly quite curious about what your process would be...I would assume you need to file some paperwork with the county. 

He enjoys the cash flow, has a good tenant screening process, and is OK with the tenant headaches that are going to occur.I would put it higher on the reward side of the profile, but it also is a higher amount of work and harder to scale endeavor.

These are high effort low success processes that pay off big if/when they hit.Good luck!

Build an SMB on top of your real estate (the reverse of #2)Short-term rentals and high owner-participation real estate businesses can have great returns.Obviously not for you if you just want passive RE.We are in the deep end here, where each case should be judged on its own facts and merits by your CPA.You should hire a professional to review your particular situation before you make an investment.

Hire licensed and insured vendors.  

Since non-permitted work could impact insurance or liability, I’d consult local authorities, hire professionals, and confirm zoning compliance to ensure a smooth process.Good luck!

25 y/o and in the process of being a self taught real estate investor.

Overall, the setup and funding process was extremely straight-forward and the customer service was great.  

Quote from @Danny Gonzalez: @Paul CijunelisSo I’m not in the IL market, but I’ve owned a PM company for 5+ years, and here are some lessons I wish I’d known when starting out:1.Hire a VA Early: If you haven’t already, bringing on a Virtual Assistant is a game changer.