However, if you bought the ugly house in an "A" neighborhood.

View report
*This link comes directly from our calculators, based on information input by the member who posted.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Hope that is helpful. 

I highly recommend a well-qualified REALTOR who works with investors and knows how to help you best.7.

Thirty years ago I started purchasing and living in properties in upcoming inner city neighborhoods that required renovation.

They could not be more excited to help. 

Portage Park is definitely a prime-time Chicago neighborhood @Delroy Watson! 

The reason I ask is that knowing the fast movers of the area may help you choose your project.Lastly, what kind of renovation budget have you established, and is it an upfront budget, or will you be contributing to it over the time that you live in the property and renovate it? 

This will give you an idea of the Class of neighborhood.