I’m based in Houston, TX, but I know how critical it is to find someone on the ground who’s a true investor ally, not just another agent.

If all things being equal, the largest distinction between brokers would be splits, given that the brokerage doesn't do any value-add.It sounds like what he's saying is, if you're lazy, you're lazy.

There's a big swing here in insurance and tax calculations I see and getting those numbers accurate are critical for your ability to not miss on good deals

Knowing your state laws - critical. 

Such deductions could result in substantial refunds, providing critical financial support during a challenging time.Residents may also explore disaster loans or grants offered by the Small Business Administration (SBA) to cover damages or losses.

I’ve had to widen my search radius to smaller suburbs or target properties needing light cosmetic work to make the numbers work.Value-add opportunities: Adding amenities tenants love, like finished basements or upgraded kitchens, seems to justify rent premiums in this market.Navigating the competition:Be creative with financing: Seller financing or partnering with other investors has been helpful to secure deals when conventional offers didn’t cut it.Work with local agents and wholesalers: They often have their finger on the pulse of off-market opportunities, which is critical in a hot market.For those new to suburban Chicago investing, I’d say the key is finding the “sweet spot” neighborhoods—ones on the rise but not yet maxed out in price.

Local market knowledge is absolutely critical, and it helps to work with someone who really understands the landscape and its nuances.As others have mentioned, it’s a broad question that’s tough to answer succinctly, but I hope this provides some clarity!

It’s a great reminder to trust your own due diligence and not let others make critical decisions for you, like hiring a property manager.For future investments, building a trusted team and maintaining direct oversight is key, even with remote deals.

Good call, Noel—licensing and insurance are critical, but in Tennessee, a contractor’s license is generally required for projects totaling $25,000 or more, including labor and materials (See Tennessee's licensing requirements).

There is also a distinction to make here as units can be legal non-conforming aka grandfathered in, in which case the above scenario would be ok to consider rental income and value on all three units.