Then you'll need to build a team of contractors to handle renovations and to help with things such as property inspections.

@Jacob Dalton, I'm going to have to agree with Jonathan Klemm (sorry, couldn't tag you) & @Brie Schmidt -- you can definitely be a successful landlord in Chicago with the right team in place.  1000's of investors do it every day. 

To do this you will need to find a good team or a turnkey provider.  

Hello Ivan,I do not work for BP, but my suggestion is that you follow the Build Your Investing Team link at the top of this page if you have not and follow each step including speaking with the prospective members of the team you want to build and with that I believe you will obtain the answers you need.

Hi Everyone, I work for a investor focused Real Estate Team (Morrow Wargo Group) based around Allentown.

Because we are vertically integrated, we can streamline operations and avoid many unnecessary costs, ultimately saving our clients money.Another crucial factor to consider is the experience and investment mindset of your PM team.

Hi Jaycee,Chose this area because my partner already had a section 8 rental here that is doing well and has a team set up.I have no experience with section 8 tenants.Appreciate the advice on starting an LLC.

these can produce good returns but best chance for success is for those that have experience in this area (I am a partner on an effort adding 8 ADUs, but it is not performing to the initial underwriting (underperforming) and it is an experienced team).good luck I get it, but not everyone has the opportunity of scale and building multiple units.

There’s no shortage of properties that could benefit from your expertise, and using your team during slower periods is a smart way to build equity and maximize returns.If you’re considering your first project, I’d suggest looking at duplexes in Belton, MO.

Strong local teams can bridge the gap.4.