Just keep in mind the process can take a little longer since you’d need to work with contractors and follow FHA’s requirements.4.Your End Game: Whether you’re planning to stay long-term, rent it out, or sell once the work is done, it’s important to have your exit strategy mapped out.

Right now, I’m actively learning and planning to start my first projects this year.

I plan to put down $50,000 and expect to net about $300 a month from it.Does anyone have other options or advice that I should consider?

Please feel free to reach out to me and my team if you would like to come up with a game plan and build your buy box. 

These are all things I am trying to plan for. 

I’m 17 and plan on getting my real estate license right after I graduate high school.

I've done and been a part of many Chicago zoning changes...they take a very long time and a lot of upfront money...unless you are planning to add multiple units and do a full renovation, the ROI is probably not there.

There's other items such as this where it may be helpful to talk to a CPA/EA for a little tax planning, especially since you'll likely get caught up in the passive activity loss limitations if taking bonus on a single rental property as I often see.It's also useful to mention that even if you do the cost seg study (I'm assuming you're doing one to be talking about this), you'll still benefit from accelerated depreciation in the form of shorter useful lives on the assets where you received bonus from.

What kind of investments are you planning on purchasing, and what area? 

@Steven NguyenThe BRRR method is a solid strategy, but careful planning is key.