@Raphael Pangilinan you will want to interview several HMLs as they may offer different terms depending on your experience.I’m very familiar with the Temple market and I have investments there myself.

What would you do to get a partner, vet them, and possibly look for a long term business opprtunity?

What advice would you offer to someone with no experience to date with rentals in terms of selecting the best location to look for properties? 

This property is going to be a money pit for a while, but long game will most likely show a profit or at least not a loss.  

It's just that in this market deals are few and far between and I don't know when or even if I could find another deal soon.You are putting both assets at risk for a very long time.

Turning a single-family home into a room-by-room rental strategy really paid off, especially in a neighborhood like Portage Park where whole apartments typically rent for less.The demand for month-to-month flexibility is growing, especially in cities like Chicago, where people might need shorter-term housing due to job relocations, school, or other temporary situations.

Hello everyone,  long time reader and podcast listener, first time poster...  

Discuss the terms, including interest rate, repayment schedule, and collateral.

It's a good idea to look for lenders that specialize in more flexible terms, such as portfolio lenders or private money lenders.

Hello, I have several long-term rentals that are all currently in my name.