Get the best deal you can and lock in the terms, because the oil is still in the rocks and the world still runs on the stuff.

@Stanislav PerevozchikovLook at surrounding areas to Illinois but not cook county unless you’re well seasoned or have a rockstar of a management company.

Thanks for the read and rock on!

The market is strong and rentals are a hot market in Rock County right now. 

(Any applicant that has NO DEBT, owns a business and has cash, in my opinion, is a much better applicant than someone that has a W2 Job, debt and a high credit score...it's backward...when they lose the job they default on the debt and the score drops like a rock...not this applicant...he loses a client he get a new one.) 

Make sure your personal financial position is rock solid with plenty of emergency reserves. 

I am curious what criteria others are using for selecting their out of state properties.For me:- Landlord friendly states- Growth in the area based on census data- >2 star neighborhood rating- >4 rating on schoolsHistorically, my strategy has been buy and hold, let the property appreciate while the tenants pay the mortgage.  

Not mention I am also looking for rockstar Realtor,wholesalers,Property managers and also contractors.

But on the other hand, it sounds like you're fortunate to have all paying tenants and you might not want to risk rocking that boat.What I can tell you is, the worst possible scenario is actually NOT you raising the rents and your tenants leaving and you having to re-rent the place. 

Black rock is an investment fund with a very strong RE wing too