You can learn from the experience and avoid the same mistakes on your next flip.It would be even better if you avoid thinking of exit strategies and do your homework carefully so that you would not have to sell at a loss.

Must be the "new math" because we certainly haven't seen them here.

As a former high school math teacher, I can understand the importance of educating consumers that you describe.

I am have done a ton of homework, much right here on the site.

Of course, the crime issue is highly segregated, so it is a matter of neighborhoods, but you really need to do your homework especially if you are in the city at your price points.Finally, the state of Illinois is a complete mess fiscally and the city of Chicago is as well (although not quite as bad as the state).

It is doesn't take a math wizard to know that 1 month empty at 600 a month is the sameas 550 a month next month and so on.

Which is to say, if math is not a thing, then you'd make tons of money!

However, if the property still cashflows with a property manager expense, I would use a manager, just do your homework on the property management team.

Do the math and the math tells you what to do. 

I was a math major in college.