I started communicating the details to the current property management company which has a great reputation.

With your construction background, you're already in a strong position to add value to properties through renovations or identifying potential issues.

Owner only gave us $2k to work with, so we took care of Health & Safety issues (to avoid lawsuits) and did our best to spread out the rest to make the property look "decent".

It also allows you to manage paperwork and document communications with Tenants. 

They have addressed the issue of depreciation of components, but not the actual methodology of the study.

The communication was prompt.

The south and west sides of Chicago have historically had a lot of issues, and many investors have done well there.

They still haven’t resolved my issue, but hopefully in the next few days.

Hitting these targets could be the key to unlocking lasting investment returns.Before diving in, developers need to complete pre-submittal steps, including issuing a "Notice of Intent."

Sometimes, unseen issues (like major repairs) end up costing more than the discount you negotiated.Final Thoughts•If there are no major rental restrictions, and the numbers work based on rental comps, this could be a great first investment.