Quote from @Nicholas L.: @Jessenia Hartagefor sure you should house hack there if you can.investing there is more complicated since prices are high. 

Quote from @Nicholas L.: @V.G JasonI think you're saying that for people who bought maybe at the tip top of what they could afford, if they take on more debt and/or variable rate debt adjusts and/or they lose a job and/or they get divorced, they'll be under a lot of financial strain / potentially unable to afford their mortgage. 

@Tim Harwick  I give an electronic discount of $10 if paid on the first of the month, it is written in the lease and  l show the full rent amount too. 

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.