Purchase price: $1,250,000 Cash invested: $260,000 Sale price: $1,840,000 Coastal Dream Home - Renovated with ADU Plans!

Here’s a breakdown to help you navigate your first deal, incorporating advanced strategies, including 1031 exchanges, to attract a broader range of investors.Neighborhood Recommendations: Chicago offers a diverse range of neighborhoods for different investment goals:Wicker Park & West Town: These areas are known for their strong rental demand among young professionals and offer good potential for cash flow.Lake View: Ideal for attracting tenants who want to be close to downtown while enjoying local amenities.The Loop: A prime location for high-income renters, making it an attractive option if you’re planning to house hack and generate a steady stream of rental income.Property Types: Opt for properties that align with your investment goals.

there are so many posts on BP by people who plan to take out a loan at 8-12% on a HELOC in order to get a return of 0-6% just to "buy more doors."

This can include coordinating around tax strategies, estate planning, and cash flow management—all while considering your real estate portfolio as part of your larger financial picture.

@Nathan GesnerYes the long term tenant is under market and I plan on gradually raising his rent.The other tenant is going through a divorce and is looking to buy a home.

Give a deadline for notification of their intent to sign a new lease or their plan to move. 

Our initial plan was to hold it as a MTR (medium term rental) but decided to flip instead in order to fund the purchase of our new primary residence.

It also seems that Arkansas is seeing what Oklahoma is pouring into tourism and plans to keep up. 

Whether you plan to rent your current home or buy a new property, the choice depends on your risk tolerance, cash flow goals, and lifestyle preferences.

If you are going to be held responsible for the bill, I would first try to get on a payment plan with the company to pay off that balance.