Mechanicals, roofs etc. can be towards the end of their useful life and pass inspection but then the cap ex can't be absorbed in many of these C/D neighborhoods.

We also recently got notice from our home Insurance that they are cancelling our policy because of exposed wires discovered by their inspector.

With a private auction of an already foreclosed property, you will usually be allowed as part of the closing to have a title search done and to buy title insurance.

When you move forward, they should provide proof and name you additional insured.

- Controlling costs for payroll processing, unemployment charges, workman's comp and liability insurance- Coordinating ServiceTech & tenant schedules for appointments--- There are several industry vendors that focus on just this!

We both run our own businesses but we feel that real estate will help make sure we both maintain our life plans of not needed to work as much any more.

I had false beliefs that it takes money to make money my whole life.

However, if your time is limited or you don’t want to deal with tenants directly, hiring a property manager can make your life much easier—just be sure to choose one with solid local experience.Are you currently house hacking in Chicago?

I also assume you have homeowners insurance rather than landlord policy which is invalid if you’re not living there.

According to Warren Buffet, Fannie and Freddie really failed because of high-leverage risk-taking in the fixed income arbitrage space, saying:“The portfolios are what really got them into the trouble…the managements of Freddie and Fannie tried to juice up the earnings, basically, because the insurance guaranteed that they were given that mortgage.