I work with a lot of MTR investors and what I am seeing frequently with multifamily acquisitions, particularly with new investors, is that they often test the property just like you're mentioning, as a way to dip their toes in the water and see what works in their area and for their personal style.

It was a challenge How did you find this deal and how did you negotiate it?

Challenges?

If you are sole member LLC you just take a distribution from your business account to your personal account.You are likely already reporting the income on a schedule E.

Financial Highlights•Acquisition Price: $72,000•Renovation Costs: $35,600•Total Investment: $107,600•Funds: raised from personal savings and private lenderHow did you add value to the deal?

I need all the friends I can get since I currently only know one person (who I don't really know).

Don’t just focus on the voucher—focus on the person behind it.

@Blake McWilliams This is a most challenging problem with both residential and commercial investors.

I have a list of them that I can share with you.Chicago, without a doubt, has some downsides, but there are also a lot of positives, like the inventory of older multi-family properties and price points at all levels.Investing out-state can be challenging because of the distance and the need for boots on the ground that you can trust 100%.

I have personally purchased large apartment complexes from REITs and know how poorly some of them manage their properties.