Just as with LTRs, management is a huge determinant of profitability.

Determine if it is the agent, or the market.

Why will likely determine how because if you are looking for cashflow vs. appreciation vs. quick capitalHow could it be househacking, brrrr, flip, long term -> You mentioned BRRRR, which is an awesome strategy but will only work in specific sectors of Chicagoland. finding the perfect brrrr in the current environment is extremely tough!

Thank You  @Wale Lawal and @Robin Simon Yes I am leaning towards BRRRR, though still figuring it out as to criteria of how much distressed a property should be or how to determine how much work it needs.

1) Rarely paying asking price or even "market price" for a property.2) Understanding how they may be able to reposition a poorly managed property for increased cashflow and value.3) Looking for creative financing, so they don't have to deal with a bank for a purchase loan.4) Understanding ROI, Cash-on-Cash, NOI, etc. and using those numbers to determine HOW MUCH they should offer on a property to meet their taget performance numbers.Funny, appropriate, recent interaction with a plumbing company.

I am trying to understand if there is an easier way to determine A/B/C/D/F class neighborhoods.

I honestly believe that the cycle isn't finished and there are still good deals to be had, but you can determine that for yourself by doing some research. 

For those who have done a base rent + percentage of wedding event operator revenue, what percentage did you use and how did you determine it?

Again though, as a CPA I let the attorneys work with clients and determine what is best as the DIY options might leave you with a void that renders the LLC (or any entity for that matter) set up ineffective and useless.

Whether you choose to join a program like ours, hire a business coach, or work with a mentor, the key is to find the right support system that aligns with your goals.Real-World ExamplesTo get a better sense of what we offer and see some of the successful deals we’ve done with our partners, please visit my BiggerPockets profile.Final ThoughtIt’s crucial to weigh the benefits of paid programs against free resources and determine what works best for your personal situation.