So you cannot just look at industry Cap rates alone unless you understand an operators abilities for higher yield on costs.BAM Capital is becoming an institutional investment company in multi-family Real Estate with Brokers.

Success: stablized a great industrial IOS deal to a 12 cap.

It shows me the average price of booked vs unbooked properties from my completion that I can choose.

Just speaking from a cash flow management/account structure perspective.As for someone being in the real estate accounting industry for over 2 decades, I can say that State Law compliance is big on this.

I have financed several short term rentals and the above average value properties have been a challenge to get a supportive 1007.

I am not necessarily that new in the Real Estate industry because I have a place in Tulum Mexico, Condo as a short term rental. 

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.

@Jordan Kaylor @Jeanette Land    Seasoning requirement is a industry term for waiting period.

What is the average house renovation cost in this area and which areas do you recommend?

The more rehabs you do the better understanding you will have of the market for contacting work and materials.Doing a rehab every so often prevents you from being sharp with your budget.For those with limited exposure, ask others in the industry and always run your numbers based on being overbudget and overtime.