Most current foreclosure starts today, do not end up going to saleWhile not an exact correlation, housing foreclosures vs foreclosures starts, the few foreclosures that complete under the present circumstances, makes it very slim pickings in the foreclosure space. 

Why not start with a small turnkey rental property and test the water?

Once you narrow it down, start with small jobs to test their reliability and quality before giving them bigger projects.Building a solid network takes time, but having dependable people on call is a lifesaver for your rentals.

Why not test the market by putting the lots up for sale, and if nobody bites, that might provide your answer. 

Last year we began testing different places by staying in Carrillo and Junquillal with day trips to a lot of other nearby beaches. 

And even if they do, they can change that at a monthly BOD meeting.Plus, since you are going to have to hire out the 1) Property Mgmt, 2) Repairs and maintenance, and 3) cleaning, your profit margin is going to be very slim, particualry in a condo (which will have a much leaner net profit than a basic house.Not trying to be a downer, but I'd suggest looking at another avenue for REI. 

Your clients should focus on properties with significant equity potential and work with experienced contractors to stay within budget and timeline—especially with borrowed funds on the line.Avoiding Bad Deals - Encourage them to work with experienced agents, contractors, or mentors and always run multiple scenarios, including worst-case outcomes, to stress-test their numbers.Reserves - Advise your clients to keep a reserve fund separate from their loan for emergencies, unexpected expenses, or delays.

Just starting out and testing waters for BRRR in Chicagoland area.Any advice or suggestions regarding this?

I don't have personal experience with it, but when the app was first developed, I contacted the developer and put the app through a fairly robust test usage to see if it's something I would want to recommend to my clients (I'm a CPA).I think the app is great for its intended purpose and I do recommend it to my clients now (and have for about 18 months now). 

Right now its slim pickings in real estate for properties that will cash flow or see any significant appreciation. of course they are always out there but a lot harder to find.The other question is why do you want to continue to grow?