I'm registered with the the vast majority of notable nationwide DSCR lenders.

Start small, ensure your numbers (purchase + rehab + holding + selling costs) leave room for profit, and build a reliable team (contractor, agent, lender).For financing, work with lenders who specialize in fix-and-flips. 

If I believe I can generate enough profit this year and navigate any potential inspections next year, I’d be comfortable moving forward—using the income earned to cover any necessary upgrades.An alternative exit strategy is to document the financial performance and sell the property as-is, highlighting its strong short-term rental income.Think through your next five moves, from best to worst-case scenarios, and make a decision that aligns with your goals. 

David, this deal could work, but I’d want to dig into a few things first. 80% occupancy with long-term tenants is solid, but what happens if a major tenant leaves?

Industrial in an area like Chicago will be safe(unless a major event happens), even then those industries don't vanish easily.

We run into this especially at out parcels in grocery anchored centers, and our users generally can't make a ground lease work for the business case so the next best thing does tend to be the BTS or we often do Reverse BTS deals where the majority of the building design and management etc is done by the tenant. 

Profit and loss will be a guessing game. 

@Dallin BlankFoundation issues are common in DFW due to the clay soil, but many investors still profit by knowing how to assess and negotiate these properties.

I have owned/house hacked these properties for 8+ years and all expenses totaled up (including rehab projects upon purchase, major cap expenses, CPA costs, etc.) comes out to $1,200 per month.

Instead, look at your major location-specific operating costs as an investor.