When you have studied your market properly you should be able to provide the answer of if single family or residential multifamily is better for cash flow. 1% rule was for a time when almost all deals were decent as a way to rule out the lessor deals and concentrate on the best deals.

This requires an independent appraisal valuing the property at $400k and proper documentation from the seller confirming the $200k donation.Ensure the church is a qualified 501(c)(3) entity, and consult your tax professional to comply with IRS rules.

If the age of your equipment is older, or it stops functioning, those repairs can also add up.

you have the proper team, go for it you can do this. best of luck and if have any questions let me know.

Place these footings strategically after you have jacked the house up to proper level.

I get the desire to own outside of Chicago proper, but instead of going to another state altogether, why not invest in one of the burbs?

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

You might find that installing a mini-split system, properly insulating, and ensuring the finishes match the main home’s quality will make a difference in how the appraiser views it.

Hopefully your one side will vacate properly and clean. 

Additionally, ensure that all necessary notices for filing an eviction have been posted and properly documented in your records.