Here in Chicago, you should expect a range from $200-$275/SF, depending on the location, experience, labor, and material finish level.Are you in a position where you already own some land, or what is your current situation?

. $40k a year for not doing much is a great investment on $40k unless you are putting in a ton of work into the property.Who operates the property?

You don't typically don't want this, as this is the lowest evaluation.2.

You should have a MAO to this deal.

I individually priced all my materials and got several estimates from contractors.

We keep telling ourselves "this is the last one" then decide to do it again.

Question• Has anyone formed an llc to start and fund their 1st real estate purchase using a SBA loan?

In 2021, this property would have sold for $1.2M.While this, still, is hard to cash flow at a 7% 30-year rate, buying a property that used to trade at a 5% cap rate for a 7.5% cap rate is inarguably better value.

The 50% rule - in my opinion- is used solely as a quick back of napkin calculation to determine if it is worthwhile to do more investigating of a property. 

These small conveniences can save you time and money in the long run.For rent collection, you can try Rent.app, which is easy for tenants to use and keeps everything streamlined.