The important things to consider about HOA fees is that they usually include some utilities: Water/Sewer, Trash, sometimes shared amenities like gym, clubhouse, pool, and they are saving you the time and headache for property maintenance: lawn care, tree timing, roof, siding, etc.

Welcome to the community and be ready for a huge amount of information at your finger tips.

Just trying to gather as much information and tips as i can

One more tip – people remember stories that trigger their emotions.

Since you're so close to Loyola and not too far from Northwestern, I imagine you might have a pool of people who need temporary furnished housing while they study, do a medical rotation, or travel in the medical industry.

I intend to rent out the units by room to college students (does it sound like this would work in this area and what are some general tips/things I should look out for?).

When it comes to analyzing properties, I’ve developed a specific checklist to make sure the home fits both resident needs and operational goals:Square Footage: Ideally, at least 2,000 sq. ft. to ensure enough living space for residents and staff.No Stairs or Pools: It reduces liability and keeps the home accessible for everyone (this is just my preference).Corner Lots: I love corner lots because they often provide extra parking and outdoor space—both of which are critical for families and visitors.

Just a tip - make sure you don't just look at the current property taxes. 

You also mentioned you started pretty young, I am 18 and just purchased my first college rental, any tips? 

Add the difficult exit and your investor pool is very limited.