My business partner and I just opened up our property managment company in the Chicago/Chicagoland area and it is not easy to do this the "right way".Honestly you can get yourself into some serious trouble if something happened with a tenant, an injury, anything and they sue and find out you don't have a license.

Also, if in worse case my file is audited, will it be a bigger trouble with an out-of-state CPA if we decide to appeal in court? 

Then you are in trouble.

I really want to find a Multifamily but I am having trouble finding quality properties that are currently on the market. 

Each unit is 3bd/1.75ba, single car garage and fully fenced backyard. 

They get the seller is trouble and they get you in trouble.Always use common sense integrity and honesty to do anything and everything and it is hard for you to get in trouble!

I had just mastered the original deal analysis and was getting comfortable analyzing deals.  I love the more detailed analysis but I'm overwhelmed.  Any advice?  Many thanks! 

What troubles will come after construction and attempting to sell? 

We have a 3% rate so dont want to refi but the property has appreciated quite a bit so would like to tap into that equity to fund our next deal.I am having some trouble finding lenders that offer helocs on investment properties.Does anyone know of any banks and/or lenders that do helocs on investments?

I wanted to start this conversation because I’ve seen too many investors (including myself) get into serious trouble due to a lack of cash reserves.