The thing I'm trying to figure out is how to properly qualify as a RE Prof. 

I get the desire to own outside of Chicago proper, but instead of going to another state altogether, why not invest in one of the burbs?

Gone are the days prior to 2019 where I as a complete newbie could buy and get instant equity, use financing at sub 5% and still cash flow while maintaining a reserve balance.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

By building strong connections and sharing knowledge, we can support each other's journeys and uncover new pathways to success.Moreover, let's not forget the importance of maintaining a healthy work-life balance.

Talk to friends and neighbors and ask them who do they know that wants to be in the area.I think you can find someone to wrap your mortgage to at or just above your loan balance and maybe a point or two higher than your mortgage.

I felt like checking a little bit more so I ran a proper background check on her and was shocked to find that she has multiple felonies including jail time.

you have the proper team, go for it you can do this. best of luck and if have any questions let me know.

It would be pretty simple to find a mortgage loan calculator online; input the current loan balance; and modify the terms as needed.

If you are thinking about a new purchase with a heloc vs a current 30 year fixed rate, this could be a good alternative.Basically, helocs are billed based on the average daily balance of the account.