As a seller I wouldn’t let anyone tie up my property that I wasn’t AT LEAST 90% sure would close (not wanted to close, not said they would close.) and that number is probably closer to 95%. 

In the backyard, what was previously grass and concrete was completely transformed into a lush vacation oasis, complete with a luxury pool, expansive deck, custom mural, chic furniture and hot tub for the ultimate tropical experience.

Quote from @Kristin Solbach: Quote from @Bradley Buxton: @Rahul P.A market closer to the Bay area is Reno, NV.

In the backyard, what was previously grass and concrete was completely transformed into a lush vacation oasis, complete with a luxury pool, expansive deck, custom mural, chic furniture and hot tub for the ultimate tropical experience.

You'll realize it'll need to be closer to $600k(20%  markup).If so, I suggest a long term plan.

I can now see how the those wide gaps in my plan/idea can get closer together and be possible 

I have a similar background (but am much older) and did not start growing my own personal portfolio till I was closer to 40 and in less than 10 years I could sell all my real estate and retire if I wanted.

It's probably closer $3,500, rough guess time assuming the 1st mortgage is in the 1st month of its second year out of 30 when the first $3,000 chunk goes toward it.

I generally look for the areas of a market that have a large amount of available rentals on sites like Zillow or Redfin that are closer in dollar amount to the FMRs for that county.

Even though the distance would be a lot farther to travel than initially investing in another Chicago neighborhood, I know the tenant laws are a lot more relaxed out in the suburbs, the average price of property is much lower, and it just feels like a smoother entry point than a large city in general.I'm very interested in multi-family properties to begin my real estate journey and have worked on putting a team together, so I am getting closer to actually acting, not just observing.