While it does offer stability in rental income, there can also be frustrations, especially around dealing with inspections and bureaucracy.

I’ve got her dealing with 8 properties which have individual accounts.

I'm looking for deal analysis for flips.

I am leery because it is such a small deal…just 1 small 1 bedroom unit…and not a great a deal unless maybe you are local and have a use for it…walk to community college.  

I like option 2 to diversify the investments in 3 smaller rental propertires, 3/2 around 1500 sqft, in good school districts which will open the biggest pool of tenants. 

Sounds like a good deal, congrats Scott!

I'm in South Loop near the Loop, lake, Grant Park, CTA, and a variety of hospitals / schools, so renting out the room on a mid-term basis (32+ days) for a premium was the best strategy for me.

This is the type of deal where doing your homework upfront pays off big time later.

I wouldn’t come up and say I am new in the business but if someone ask me I’ll be honest, that may work for some, but not others, it who cares anyways, you won’t get everyone, you want those that will want to do business with you.I will also reiterate that even if you are brand new and some ask you, turn around to a positive, if they say “but so and so has been in the business 20 years and have done many transactions blah blah blah” you can turn it around “you know mr and mrs seller, that is a great agent with a great track record, but don’t mind my asking, they are doing so many deals a month and so and so a year, how much time do you think they would dedicate to your home?”

My favorite was a hoarder house full of trash that took me six months to turn around, but it turned into a killer deal that earned me a 600% return.