Now that I have answered your question, I'd like to share my questions and possible concerns. 

Some of our owners have accidentally thought they were handing a situation "right", and because Chicago is a very tenant friendly city, the laws tend to lean in their favor, and it can cost you a lot if you are simply just not up to date on what is proper protocol (for example, what to say, what not to say, what to have in writing, and what not to put in writing, etc)... can be worth the management fees. 

One of the key architects of the program is now serving as HUD Secretary, thus we are likely to see even more opportunities ahead." 

In your example above now your debt goes from 3000 a month to 3250 a month. so, your DTI HAS gone up but only to 32.5% from 30%.  

I have preaproval for a 250K loan now.

Now a listing agent cannot advertise the commission they will pay another agent for bringing them a buyer.

Interest rates need to drop a certain amount in order for a person to make a transaction right now.

With closing costs, housing costs, agent commissions, my HELOC costs, I estimated about $20-$30k profit, depending on sale price.But, now I am thinking this would be a great BRRRR to learn those ropes as well!

Now that you have those numbers, you will take the total value of the homes, subtract the assessed land value (land doesn't depreciate), then subtract the applicable extra depreciation that we calculated above.

Now that time has gone.