@Travis Timmons I think the key is to try and include a simple "one sheet" explaining 2 or at the most 3 options for them to choose from. 

This includes all charges paid, utility accounts set up, renter's insurance established, lease signed, etc.

The breakeven math is very important and I think it also depends on your cash needs.

That rate might be justified if you were hiring a closer or someone in an acquisition role, but for cold calling alone, it’s definitely over the top.Thanks for sharing your insights—they highlight the importance of having clear systems and processes in place.

Plus, very important to understand the new layout and how the dig down will effect the existing stairs, plumbing, etc.Happy to connect and talk through your specific situation because @Bruce Woodruff mentioned every project is different and know one price fits all espeically with these complex jobs.Where at in Chicago is your building?

Your not correct under many different circumstances.First property tax is 1.1% (fairly safe) with 2% annual increase (prop 13).Next expenses include a lot more than property tax and interest. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

And thats not including how long it takes.

These and 1000 other questions or concerns or issues that to me are potentially of vital importance to your purchase, your investment, your resale and exit strategy for the future.Real Estate is a team sport. 

Continue renovating my current house--big projects would include finishing the basement (adding a bedroom/bathroom/living rm space) and putting new siding on (the current siding is probably the original).