Looking at one now: 1.3M purchase price (a tear-down right next to a 10M new build that’s almost done) , 1.4 construction budget, resale value 6M bare minimum maybe a lot more if we do it right and the market holds.

Investors make their big money from appreciation and rental income barely pays the bills and does not keep up with appreciation.

I've owned properties in Boise and Meridian Idaho for the past 15 years and the problems is the rents are low, the property taxes are high and their are so many homes being build, because there is a billion acres of land and the property appreciation barely keeps up with inflation.I owned properties in Las Vegas for the past 12 years and just sold most of them and I made a lot of money because I purchased the properties for 30 cents on the dollar, but the problem with Las Vegas is the rents are low and the cost to clean every house when tenants moved was $6,000 to $12,000.

Funny thing happened along the way however, and we realized that we never wanted to return to the W2 (or anything else that cut/limited our time, flexibility, passions etc) and we started trying to figure out how to make that happen.At the time we quit/left almost 10yrs ago, most of our units were barely breaking even... but the fact that over time they would grow into "enough" provided the confidence we needed to not return (even as the savings/travel funds were running out), and for us the decision was to live very frugally for a few years so that our lifestyle costs matched (or were closer to) the small income provided by our properties. 

The market is bare and the houses for sale are overpriced!

Based on most rules of thumb they would barely cash flow right away, but with rents brought up and no major capex they could cash flow around $100 per door. ps may have opportunity for seller financing and/or better price.Thoughts? 

Based on most rules of thumb they would barely cash flow right away, but with rents brought up and no major capex they could cash flow around $100 per door. ps may have opportunity for seller financing and/or better price.Thoughts?

Average DOM barely ticked up, prices still very high, still seeing multiple offers over asking (oftentimes with no inspection contingency).

With the understanding tenants have to pick a reasonable color, no hot pink. 

Some of your main focuses as an investors in Chicago should be investments along the Green Line, Blue Line, Pink Line, and Brown Line.