This stock income (LTCG) along with the rental properties in Chicago, we have a life of abundance at the moment.With that being said, the rentals in Chicago do a portion of the heavy lifting by eliminating the housing costs completely while adding $1k extra each month to cover Cap Ex and other expenses.

If it is a heavy value add deal, the calcs become a little more complex. 

This means that every year, your IRR (Internal Rate of Return) will increase.4) In an appreciation heavy market like San Diego, the IRR is going to be the best way to calculate your earnings as cash flow is fairly low relative to initial costs (down-payment, closing costs, carry costs while placing tenants)5) To calculate your IRR, you want to use this formula: (Appreciation + loan pay down +/- Net rents)/ down- payment.you can include the Closing Costs, and carry costs, but I usually do not.

Killeen / Harker Heights area also will be more of a cash flow heavy section in my market.

Are you doubling down on short-term rentals in tourist-heavy areas, pivoting to long-term rentals in growing suburban markets, diving into value-add multifamily properties, or exploring something completely different?

Some of the heavy hitters here in Chicago discussed the ADU program with a very nice person from the building department.

The markets you mentioned in your initial post in this thread are great markets, but they're all heavy on appreciation and light on cash flow.

Quote from @Isadore Nelson: Cash-for-keys, unless you're offering heavy sums does not happen in one afternoon. 

But that's a big IF in 2025.The approach that I take now is to let market appreciation and inflation do the heavy lifting for me.

So, for a small duplex, what price range are you targeting and how much (light, medium, or heavy) rehab would be acceptable?