I've personally done just about every rehab scenario, properties I've lived in, properties bought as investments and even properties bought at auction.You've gotten good advice from folks on this list.

Any advice?

If I'm wrong in my thought process like others I'm here to hear the best advice for all of us :) 

Can someone give me some advice in the below scenario?

Hey @Mordechai Chaimovitz - It sounds like you are talking about Chicago's NW side because there are definitely tons of areas in Chicago where a 2 flat can cashflow well.I know for me buying on the nw side was critical to my personal well-being and life happiness. 

I would be very careful about accepting advice from anyone that could personally benefit.Listen to David Greene Podcast on YouTube, Spotify, etc.

You should speak with a CPA and a tax attorney to be safe.Regarding your thoughts about 1/3 equal splits - sounds good until you check out the cost of getting a DSR rehab loan or borrowing hard money.

Sounds like you are in a pretty strong financial position.

Hi there,I own a handful of longterm rental properties in Chicago and have sat on an HOA Board for many years. After years and years of being frustrated by how tough it is to find honest, communicative contractors, I ...

Real estate success is driven by demand, it sounds like you will have more tenant options and higher prices in Ft.