The more rehabs you do the better understanding you will have of the market for contacting work and materials.Doing a rehab every so often prevents you from being sharp with your budget.For those with limited exposure, ask others in the industry and always run your numbers based on being overbudget and overtime. 

Certainty in this industry is merely an illusory facade - costs and timelines often exceed expectations by double.

They often won’t tell you about problems until it affects their wallet, and they’ll flat-out lie if it suits their needs.

Multifamily projects often yield higher per-square-foot returns due to economies of scale and consistent demand for rental units in urban areas.

What matters more is how easy can you get there, how often will you be there to learn, how good is your team. 

Evaluate Property ConditionOlder Chicago buildings often have charm—but may come with hidden costs.

I personally try to avoid extroverts because they are often incompetent and irritating.There's a difference between being an extrovert and being charismatic.

I personally don't like the idea of using OPM as is often recommended for people without their own capital.

This often means a smaller down payment and lower monthly payments compared to a traditional bank loan, especially since the seller may not be tied to the high interest rates banks are offering.Another option is a land loan from a local credit union or bank.

Even then its often more cost effective to work more with what you have.