I invested about 6-7 years learning from a local gray beard syndicator and someone on the west coast and wouldn't trade what I learned for anything.  

@Mark Gray how much would you budget for cap ex/ maintenance / management 10% each?

It is gray in any state.

We painted that building white and painted the roof a gray color along with resurfacing the parking lot.

This is one of the biggest gray areas in Chicago.

Now more than ever due to the statewide ADU clarifications, there are no gray areas really.

They seem like two shades of gray to me, with the latter less riskier and giving much higher returns.

At the end of the day, it is a rental and all you really need is a modern paint color(white or gray) and some decent hardware (Amazon or eBay for cheapest prices) and you're good to go in most instances.

Gray floors.

@Spencer Gray - Late reply here...