Sounds like you had a decent deal, and if it's your residence you surly can use it for your personal use with refi etc.

Wow, sounds like things are already a lot more regulated where you are in Chicago.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

It sounds like you are already having success with them.

It sounds like I may be following in similar foot steps at first!

Side note, she was able to get into this property for just under $13k and we we're able to negotiate the seller putting in a new AC unit as well as paying a $7000 invoice to a contractor to replace the roof.Moreover, if your credit is solid, I'd opt toward a 5% down conventional loan if you're leaning toward the 3.5% down FHA route.

She's again looking for a business plan :)As my goals for real estate progress and our event rental company grows, I'm looking forward to the day where it can be income replacement and I can quit my day job!

Wow that sounds terrible!

Sounds like an interesting startup.

That might be a place to start.What you're proposing, though, sounds more like prefabricated construction.