Then there's other factors to success especially in a heavy lift like this, some of the most important in my opinion are Being on site regularly to manage the contracting processHaving a lot of cash reserves - 'a lot' imo would depend on how thorough your current bids are and how old the property isYou mentioned it's bleeding cash now, whatever your timeline is for the property bleeding I'd double it and see if it still makes sense. 

Making the basement a legal unit is costly but can be done as an ADU depending on your exact location (ADU zone maps are on City of Chicago site).

Good morning,There seems to be a lot of good information on this site but does anyone have recommendations for the best resources here on the basics of multifamily investing here on BiggerPockets that I can learn from.

If the work looks like it was performed by inept home owner or handyman, it will get more scrutiny.  

I was in Little Havana last month and it seemed like every block had multiple CMF being built 5k is too small and you need to focus on t6 sites I'd focus on 15000 sq ft and up and higher equity for land only. at least 50% equity. overall decent strategy but you have to know what to do with the land in miami. it's already a buyer's market and plenty of sites that can be rezoned. there isn't much value to finding underpriced land off market. take it from someone who's looked at 500+ land sites in miami in the last 3 months 

Their first deal but we are also seeing a lot of investors asking for bail out loans who are cash poor as some of their investments are not performing / cash flowing well and want to take equity from one to cover their costs.

I have done a search at the site you found, Steve!

If a Cost Segregation Study had not been performed on this $1,200,000 warehouse located in Orange, California that was purchased in 2018, it would have had first year depreciation of approximately $10,225.

Evaluate Realtor Performance: Reflect on your realtor's performance and consider providing feedback or seeking a different realtor for future transactions if you feel your current realtor did not adequately represent your interests.In summary, your realtor should have proactively checked the status of the POS report and communicated any issues to you well before the closing date.

Many more are not on the site.