Reno Scenerio Off Market Purchase Price - $185k ARV = $315-335kReno - $55-65kHolding - $10kClosing both ends - $25k= $335 , $315-$285 =$30-50k gain  As-IS Scenario Purchase - $185kSale Price on MLS :$225- $235kClosing both ends - $20kHolding - $4k= $235 - $209 =$16-$26k gainIn both scenerios I’ll be 1031ing it into a new investment.

We have some capital and are looking to possibly purchase a small hotel.

Gain is your net sales price minus your adjusted cost basis (purchase price plus capital improvements minus depreciation). 

Quote from @Jared Goldwasser: I live in Los Angeles and am looking to purchase my first investment property this year -- interested in single family or duplex units.

Are you wanting to purchase in the same area of Chicago?

Right now, I am renting but have a goal of purchasing a duplex, triplex, or quadplex in the coming months.

Purchase price: $74,000 Cash invested: $25,000 Sale price: $145,000 I acquired a property from a couple needing to relocate, with significant repairs required.

Purchase price: $655,000 Cash invested: $40,000 Sale price: $770,000 Purchase and hold.

You're gonna want to be around $400k purchase price to be in a good area too.

I went all in, I had a few 401K’s so I cashed in the one that was growing the slowest and took the penalty and purchased my first property.