Chicago has such a great investing community compared to most places in the US I have visited!

So a question, haha, and forgive me if this sounds incredibly naive - how about getting a property manager or someone else with boots on the ground to do the underwriting by visiting in person etc.

I grew up there and really enjoy going back to visit.

@Steven Hamilton II I want to mention that My husband and I both reside in California, and I manage the property remotely from California via Zoom calls, and also physically visits the property.

Hi all, and nice to meet everyone.

With your additional $100,000, you’d have a nice cushion to renovate or furnish a property like that.It really comes down to how involved you want to be and your long-term goals.

The cash flow would be nice, but are you planning to hold for a long term or refinance before the balloon or sell?

It's a nice lesson in behavioral finance.

Another nice bonus of using this as a funding source is no closing costs, big help on the front end.Obviously, if all goes relatively well, the plan would be to hold these properties as rentals and refi at some point down the road when rates on mortgages drops back down a bit, whenever that may be.

Thinking that may be a nice bonus!