I am based in Chicago and am looking to start my real estate journey.

Rental rates are fine for SFHs - I haven't had to drop my rates whatsoever with turnover, nor have I had a single tenant try to negotiate a lower rate. 

$40,000 x 25%(assuming a 25% interest rate on credit cards) = $10,000This is more than the annual cash-flow that you are getting from the rental.I would look at a way to paying off the credit card debt asap.Look to see if you can take a HELOC on the investment property(likely difficult).If you can't you may want to consider selling the proprety.You will also feel a lot of relief of not having credit card debt hanging over you.What is the interest rate on the car loan?

Hey llina, as Jonathan stated below an LLC will not determine your interest rates. 

He is based in Indianapolis and works with a ton of OOS investors.

We have made money buying properety based on cash flow (lower priced) rented out for a period, then selling to an owner occupant. 

🌲🏕️ 🔹 114 acres of outdoor fun, developed in two phases:🔹 Phase 1 (60 acres) breaks ground in mid-2025, opening fall 2026🔹 Budget: $8.7M for design, permits & Phase 1 construction 🏞️ What to Expect in Phase 1:✅ 1-acre dog park (separate areas for big & small dogs) 🐕 ✅ Bike trails & nature-based playground 🚴‍♀️ ✅ Scenic rest areas, restrooms & picnic shelter🏕️ ✅ Multi-use path along Eastfield Rd + parking 🚗 📍 Location: 13729 Eastfield Rd, Huntersville, NC 28078 📊 Real Estate Snapshot (28269): 🏡 Avg Home Price: $384,732 (+5.1% YoY) 🏠 Avg.

There will be multiple markets you can achieve a 7.5% cap rate especially if you're buying with cash.

I have taken numerous courses in RE and am passionate about learning more I am based out of West TX- Midland/Odessa area

@Ed Lopez our thoughts:1) $65 is average hourly rate for handyman in Metro Detroit.