Low out of pocket cost. 

Sorry one additional item I hit post too soon...The reason I asked about TIA is because you generally want to get a contractors opinion of cost prior to lease during that negotiating phase so you know how much that TIA covers and what you'll be coming out of pocket for.  

Most hosts in Chicago just pocket the full funds from direct booking, you would be in the very very small majority if actually paid city taxes on it.

on the one hand, if you're happy with it, and you believe in this market, and this is what you wanted, great. the fact that you're asking the question shows that you're being thoughtful about it.with that said, it sounds like you're into the deal for almost $90K out of pocket, and so if you asked me if i would put $90K of my hard earned cash into a property to get $175 month, the answer is no. 

Would love to connect to discuss strategy and debt options to keep in your back pocket so you can make an informed decision for the path forward.

It may not be the popular way as far as the Bigger Pockets community thinks, but it definitely seems like a viable, allbeit slower, way to get into real estate and build a little wealth over time.

The cashflow should cove ALL of the expenses for the primary (mortgage, taxes, insurance, utilities, etc) AND put money in their pocket.

There's pockets here for good multifamily, but the best play is to do some value add work to the property.

I have since inquired with a new attorney, more money out of my pocket.

Hi Bigger Pockets!