Chicago, for true B class asset, maybe 8-15 units, depending on numerous factors.

There are numerous legal non-conforming units in Chicago and in the Chicagoland area.  

I've heard numerous stories of landlord paying for water/sewer and it turns out the tenant is doing laundry for the entire block, all on the landlord's dime.Water/sewer/trash in the landlord's name should not be a deal breaker.

I’m a general contractor that has flipped numerous houses for other people.

@Dean BoganWe've helped many investors just like yourself build a successful rental portfolio across numerous cash flow markets.

Aside from that, tapping the equity in your primary residence is a fairly common strategy and you can find numerous posts outlining the many benefits and potential risks. 

Most important part to this post, this is very reputable law firm in Newark who primarily deals with real estate and this specific attorney has be involved in real estate for 20 years and he is on numerous  housing boards. 

I prefer month to month for numerous reasons.

See the movie Pacific Heights.

Purchase price: $875,000 Cash invested: $500,000Purchased an old 5 screen movie theater and converting it into a Luxury Dinner Theater and Cinemas.