We have relied upon them to ensure we have all the necessary paperwork to improve our offers.

Jon his profile say he is looking at duplexes to quads close to where he lives where possibly his family can live in one of the units or just keep it as a straight rental.Brandon I would say the cycle is great for investing now.

Turnkey property, so assuming 5k in improvements, 4k in closing costs.

I do not know about Chicago's landlord and tenant laws but something isn't right if 7 months later the tenant is still there and hasn't paid anything.I would do an autopsy on my lease, how you started the eviction process and if it was completed correctly, how you handled the tenants first late payment, did the PM company screen the tenant per your instructions or could your tenant screening process be improved??

You may want to update your profile with your picture, if you don't like having a pic out there, upload a photo of something like a local landmark or ?

@Steven Hamilton II - given the nature of lead abatement, it could be considered an improvement rather than a repair, and as such the net expenditure would be depreciable rather than deductible.

A face lift, improvements, updating exterior, any of that needed?

One of the properties is a 1 Br/1Ba that needs some improvement, there may be a moisture problem, it has a noticeable bug problem, last year there was a plumbing problem, yea...it needs some work.I am not sure about the classifications nor the current living environment of the other property, but my guess is it's 50/50 on similarity.The owner is offering my friend both properties for $150k with $5k down.

I buy at a discount because of the depressed value of the asset and then I know I can improve the performance of the asset and increase its value.

Maybe keep your reasonings why vague...say it's for "home improvement", and when they offer secured against your home, just say "no thanks".The 0% check offers that credit cards send out are not expensive.