Be sure to calculate the impact this might have on your ROI.Fees: Be prepared for additional fees, such as origination fees, appraisal fees, and possible prepayment penalties.Things to Consider:Loan Terms: Understand the interest rate, the loan term, and any repayment penalties.

If the price was right on Turn-key maybe, but probably more of the fixer-upper that can be leveraged later on for additional property or sold for a nice profit. 

It may take 1-2 years and by the end you will have forced some appreciation from the renovations but also got some natural appreciation from the market.

Part of considering acquiring a property should include additional possibilities.

From a tax standpoint, there are additional disclosures to make when selling a business asset for less than fair market value to a related third party. 

What is the best strategy in your opinion to niche down on a target audience in any given market?

Much like other markets in the Midwest, investors go to our market because of the low barrier to entry.

Use a quitclaim or warranty deed to transfer the title, and be prepared to pay Chicago’s transfer tax, calculated at $7.50 per $1,000 of the property’s fair market value.

If a home is titled in a trust (or an LLC), the trust or LLC should be added as an additional insured to avoid potential disputes during a claim.To confirm, we reached out to an insurance carrier, who clarified:“A carrier can potentially deny a claim if the home is titled in a trust or LLC but the insurance policy is under the individual homeowner's name.

if there is appreciation, but you wouldn’t sell your current home tax free and buy a neighboring home to rent out, (There by raising your cost basis for additional depreciation and lower capital gains tax.) then it probably doesn’t make a good rental property. .