However, I have a few concerns:Pros:Living condition: 1400 sqft → 1700 sqft with some boutique featuresThe rental market seems good in this area.Another property is added to my existing real estate portfolio, which currently includes two other properties.Cons:Interest rate: 7% - No guarantee of decreasing the rate, which means there might be no opportunity for refinancing in the future.The current home is too new to be rented out.People often say not to buy property in Chicago due to high taxes and low appreciation.There’s no necessity of moving since I have a decent primary home.Any professional advice would be helpful. 

In small college town with high rental demandAsk price 745kGross rent: 9750/mth 177k/yr     (differed maint properties with potential 200/mth per unit increase once renovated) estimated reno (190k across portfolio)NOI: 91,475/yr   (12.6 CAP)    (includes tax, ins, listed maint for past yr)     After reno NOI 127,475/yr   (14.6 CAP) Deal info:    - Owner finance 745k 20yr at 6% 20k down minus deposits (~13k)Cashflow  = 2100mth     (self-managed) (self maint similar to the previous owner)By this alone, 2100 cash flow added per month, it will put me at my financial freedom number of monthly cashflow is equal or greater than my families spending amount.

I was surprised even though the elevation is not that high (4.5k?)

If you're putting in a new kitchen and other items does the capex need to be that high?

My first flip here in Chicago went smooth, simple cosmetic renovation, but then followed two average to below average flips...so beware no to get on a high horse like I did!

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Quality work and fair rates.

Does anyone know if this applies if the applicant is volunteering a two-month deposit in lieu of a high credit score?

an independent subject to appraisal would be a good tool to use for the analysis

I have been saving since I was 14 years old, and I am on Track to buy my first Duplex (house hack) while still being a senior in high school with my Parents cosign, I turn 18 In a few months.