Apartments where you cook meth are a different ballgame than apartments where you get hustle up some weed.

There are so many numbers that are above the line that the cap is usually cooked by the time you get it from a broker.

I knew he lived with his mom prior, still goes there for home cooked meals, and even sleep there.

I am looking for 1 - 10 units ANYWHERE in cook county.  

Building is fully occupied.Here are the numbers:6 Unit Building Asking Price: $300k(All 6 units are 2BR 1BA)Total monthly rent (Assuming full occupancy): $4720Average monthly income from owned coin laundry:$75Yearly income: $57,540 - 5% vacancy($2,877)= $54,663Total income after vacancy: $54,663Expenses (Yearly):Property Tax: $15,000 (Cook County)Insurance: $2,000Water: $2,100Gas (Currently landlord pays for baseboard heating, water heater and gas stoves.

Do you know where I can find information about who is paying taxes currently (Cook county)?

@Ethan Cooke from Nolo:" 90-Day RuleThe law limits rentals where the host is not present in the unit to a maximum of 90 days per year.

I live in Illinois in the Chicago northwest suburbs in Mchenry County. and i see that there's definitely a demand for rentals here, taxes are however VERY HIGH, i spoke to an attorney who told me in Illinois that only place to stayt away from is COOK COUNTY (CROOK COUNTY) because evictions can take up to 8 months+, however in Mchenry, lake county etc up to 2 months at most.On the other hand I have been looking and reading other people's experiences in Indiana and it really seems like a mix of answers, from what i personally saw it seems to be harder to get homes rented in Indiana than in Illinois, due to the amount of supply of rental units since there are LOT of inverstors, and alot more crime than Illinois, now i dont know how true this is.

You can verify this on the Cook County website.Utilities- I'm assuming tenants pay their own.

Thanks all, for making newbies feel welcome. However I'm discovering a common thread. New Chicago investors do well to know the laws and regulations that accompany buying and managing 2&3 flats. Can some of you ...