What’s a good rule of thumb to follow when starting a business or owning multiple properties for how much you should set cash aside to go towards the mortgage, expenses, emergencies and paying yourself?

We see a lot of non-performing notes in the Cook County area and the discounts are tempting but the picture that's emerging is explaining a lot of that.Are investors actively buying at the foreclosure sales?

Louis doesn’t align with your investment goals, consider other viable options such as expanding your portfolio in NJ, exploring emerging markets, or diversifying into commercial real estate.Feel free to reach out for more personalized advice and to explore the best financing options for your investment strategy. 

But while evictions have many similarities throughout the country, scrupulously following local law and procedure is the key to getting through the process with as little pain as possible.You will probably want to also find and consult a local real estate attorney who does evictions on the process, especially this first time, especially if you suspect you're going to be doing this multiple times in the future.I can't answer your first specific question better than that.

We recently found a licensed contractor reasonable enough that we now call him for things that aren't an emergency, initially saved us thousands off management's estimate for repairs due to a break-in during a turnover (apparently management calls an outside contractor to quote potential insurance claim repairs, and he was beyond ridiculously expensive).

Under RESPA (Real Estate Settlement Procedures Act), it is illegal to pay a referral fee (called a kickback) on a residential loan.

And the money could not come from the real estate agent because they would likely be violating the Real Estate Settlement Procedures Act (RESPA). 

We sold a turn-key investment that included all staff, systems, policies, and procedures.

Now you could keep 1 boiler and put in a coil in the ductwork and use it as emergency heat . 

Perhaps instead of buying 4 properties you should only buy 3 with the theoretical $100,000 and keep the extra money in reserve for emergencies, etc.