Let’s break it down.Self-Managing Your Chicago House HackPros of Self-Managing✅ More Cash Flow – Property managers typically charge 8-12% of monthly rent.

. $300sqft to build at least.If you have any sort of mortgage on the property you will need an attorney to handle the mountain of paperwork the bank will give you for a lien release. 10k+, also probably some nightmare terms to have to build and sell immediately and god knows what.At this point a year has passed and you have spent at least $60,000 cash, you're about to break ground on a structure that will cost you at the very least $400,000 to build, you are still 1 year away from cashing out because you have to now build a house.

Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.

Cash How did you add value to the deal?

I would just be cautious, as there are some rough neighborhoods in both Akron and Cleveland that seem attractive due to the cash flow but will be money pits after the vandalism and vacancy. 

You do have to purchase at least as much real estate as your net sale if you want to defer all tax.TICS are generally cash deals. 

And it is Cash-Flowing as I speak.

I looked at a few auctions  in the past, but they were cash only.Good luck!

I My goal is to have a cash flow. 

IF you plan on going back someday, and this is the home you want to move back to, then renting it would be a good idea as long as you estimate that it will cover itself, or preferably, cash flow, which it appears that yours will at @ $2K or so per month (after expenses).