Those numbers would be ok, but do you have money for the downpayment, closing costs, capital expenditures, 15k for reserves?

If you have to change a water heater, which now costs around $2000 in Colorado Springs, that is a large unexpected expense that the owner has to pay for.

Normally, if the policy values the loss on Replacement Cost, they will initially pay the loss at the Depreciated value, once the damaged area is rebuilt, then they pay the additional amount (up to the limit on the policy).   

You can negotiate to have the seller cover up to 6% of the purchase price in your closing costs. 

My local power company has a program where they can lower power consumption to a property(ies) to prevent the grid going down during high power usage surges. 

I was concerned that the houses don't meet the 1% rule but with older houses, you're losing in more repair costs. 

We have had a Strctural Engineer out to the property and while we don't need to conduct repairs within the next 5 years or so, we will need to address both of these things at some point and it will likely cost us about 100k.Any advice on selling or holding for the long term?

(We have fixed up 3 houses now and primaries not fix and flips and really enjoyed it) my job also works 1/2 the year so I have plenty of free time for rehabs.Option 2, just purchasing a long term rental with the cash out but this will produce a negative cash flow due to the cost to rent in the springs area and $0 down.

But it truly does hold a lot of power and can be a great resource to get started and grow your REI journey.

This change is significant for the financial feasibility of ADU construction in Chicago since water service costs can be more easily justified when collecting rents from two additional unit.Also proposes to allow larger units and to allow ADU construction in any zoning designation.