There are alternatives such as bank statement averages of 12 months, a P&L statement and exceptions to qualify based one year of income. 

The owner showed you a p and l that didn’t include all expenses, or include scheduled income instead of actual income.  

For this strategy you have to acquire a building within walking distance of the L.   

Quote from @Nicholas L.: @Dennis O'Loughlinon your second question - what do you mean "obviously you can't DSCR it"?

Check in with him on the mortgage side first, there are a lot of creative income programs currently, including a P&L statement for entrepreneurs which could require less down..Good luck! 

Columbus is home to the HQ of Wendys, White Castle, L-Brands, and Huntington Bank.

Better to consider northwest Indiana.If you are set on buying in Chicago, follow the L lines and check out the South and southwest sides. 

Quote from @Nicholas L.: @Michael S.yep that's how I've thought about it so far tooindividual properties: high control, lower liquidity. 

@Jim L., this isn't the kind of deal you can base on comparable sales. 1.

Quote from @Sangwon L.: Quote from @Jake Andronico: @Sangwon L.Congrats!!