Kansas City has lots of potential for cash flow!

Making the basement a legal unit is costly but can be done as an ADU depending on your exact location (ADU zone maps are on City of Chicago site).

Tenant shall pay for all costs associated with remediating pests from the Premises and shall inform Landlord at first sighting of any pests in order to avoid any infestation of pests.

Hi Joseph,Shelby, NC presents some interesting opportunities for real estate investment, but it also has some potential challenges to consider. 

A local lender has a first-time homebuyer program that offers 0% down with no PMI and $2k towards closing costs with a very competitive rate (6.025% as of 8/19/24).

Once you figure out a strategy that you want to do, next I would learn about potential markets for that strategy and focus on 1 or 2 markets that you have some kind of competitive advantage in (you live there and know the area, you have friends/family/a good realtor there etc). 

House hacking offers lower entry costs, building equity, and allowing you to cover a significant portion of your mortgage.

All improvements would be added to the cost of your property and depreciated over 27.5 years.Any interest or taxes paid on the property for the full year are fully deductible. 

Private money may cost you more in the end, but as long as you know the terms and are fine with it.  

Go under contract with a ~45 day closing, rehab for 30-60 days (costs wrapped into the loan)..during this time you can market for tenants, then move in.