The community was presented as a stabilized and clean park but had under market local rental rates.The community is located within the City limits of Declo and has all city maintained water and sewer lines.

I am a Project Manager in the Video Games industry.Recently, I've been really studying and focusing on my long term future (retirement) plan, and I believe Real Estate Investing is a great way to achieve that, so I would like to learn as much as possible from this amazing community and, eventually, take a leap of faith to get started.Since I currently have a Full Time Job that is really demanding (~50 - 60 hours a week), my goal is to try to create a passive income from my investments.Looking forward to learning from all of you!

I am currently studying weeknights and trying to network and work on the weekends. 

Codes are state specific, time to start studying.

I am currently looking into a 7-unit apartment building on RedFin.Location: Chicago IL, North Lawndale, low income, high crime neighborhood.Asking price: 450,000Total monthly rent income: 7162Well maintained (so claimed)What should I expect the monthly average combined costs for [ vacancy + maintenance + eviction ] ? 

LLC is the easiest to form and maintain.

It's amazing when you study the people that are highly successful and they make it look easy  the complexity behind it that makes the business actually go.

You need to look at property rights, adverse possession, easement by prescription laws as since the fence has been there that long and she and previous owner  have been maintaining that property for as long as they have,  they may already have rights to it, just need to declare it legally before the neighbor does anything. 

Just like every other real estate niche there is probably money to be made if you study and work hard.  

IMO, not worth dealing with used appliances - all savings will go out the window with the first repair call. unless of course your lease agreements explicitly require tenant to maintain appliances (not typical in CA but common in mid-West)Personally, I always buy new from HD and always get 5 year pro warranty - covers all repairs and in a few cases ended up with new units when they could not fix old ones.