A friend and I created one recently:https://drive.google.com/file/...It was meant to compare costs between different lenders, but you can use it to just see costs from one lender as well.

As well as financial statements.

I'm not an expert in those markets but they've been hit.

He hosts a number of great networking groups, all in MO now but as he said, they draw investors from IL too.  ...and he's my Cahokia expert / go-to guy!

You may want to work with an experienced contractor and/or other experts who have done this in the past.Disclaimer: While I’m a licensed attorney, I’m not your attorney.

One year after I used that property to pull a HELOC and this year used that money to purchase an off market 4 family property in Clinton for well under market value, which I just recently finished all of the repairs and upgrades on.

Its a cheap and easy way to get some education and experience that will serve you well.

My strategy incorporates asset protection measures like LLCs, specific trusts as well as professional property management to spread risk and ensure quality operations.As well as using tax codes to my benfiitSection 179, IRC Section 162, Cost Segregation and Bonus Depreciation and later 1031 them out for larger projects. 

Well, this my opinion, if you like unpredictability, constant change and people/contractors with no regards to you or your property then "YES" flips and STRs are the way to go...LOL....I love it!!! 

You’ve heard from several experts I respect so nothing I say below is any reason to believe otherwise.