Do you know your actual amount of taxable profit on the flip?

I actually have two south side chicago properties right in that pocket of Greater Grand Crossing.The key here, more than anywhere else, is proper tenant screening and property management. 

So if, for whatever reason, laws change and you can't rent it out on Airbnb, etc, it still cash flows if you need to rent it out to a traditional long-term tenant. 

Reason that is bad is 2-4 units were the first to go sky high in 2020 to 2022 and now rents do not match the market if your getting financing.No point having a mortgage of over $2850.00 on a $420K home if the rents on a Duplex are only $1250 to $1350 a door. 

So this reason I rented the unit.

Current and past behavior is a good indicator or what they'll actually do, thus our process above.Good luck!

I was referred to the actual developer, Rebar Development, by City of Fishers and am waiting to hear back from their Corporate Counsel.

It gives you insight into what managing rentals actually entails, and you’ll have a better understanding of what you need from a property manager later on.

Hi Joshua, the amount of down payment also changes with the cost of the property, so starting with a less expensive property may be smart (for multiple reasons).

The last few years have been great for investors/homebuyers who bought pre-con, but looking back to the few years after the 2014/15 boom, this wasn't the case, where many had actually committed to buying a property that wasn't quite worth what they signed up for closer to closing because the appraisal weren't matching the contract price, requiring a cash top-up.