The country's continuous population growth, coupled with its high demand for urban housing, positions its real estate market for steady, long-term price increases.Over the past decade, cities like Berlin and Munich have seen remarkable growth in property values, with an increasing number of investors betting on the continued upward trend.

If part of the property is rentable while renovations are happening, that could help offset carrying costs.Given your construction background, you’ve got a huge advantage in managing the project efficiently—it’s just about getting through the red tape and de-risking the unknowns before pulling the trigger.Have you talked to any local investors or contractors who’ve tackled similar projects in Wicker Park?

The BP function allowing you to check references and actually talk to real clients of those QIs is a great advantage.

But we got to talking yesterday and I did a walk though showing them what I would do. 

Sure, you can make a few quick trades, but the playground monitors (a.k.a. the law) might notice, and you’ll miss out on the bigger opportunities and loyal customers.So, while skipping the license might seem easier, it’s not the best way to win at the toy game in the long run.I have this talk with 10-15 people each month at our Free Meetups here in MA, NH, and ME.

@Anshuman Thakur I'm happy to provide any other resources or refer you to an IRA specialist to talk through things if you'd like! 

Your tenants can only continue paying similar rents if they remain employed at similar wages.

I would be more that happy to connect with you and talk about taking all the stress out of managing rentals.  

I had some success in doing a house hack short term rental with my first property and wanted to continue growing my portfolio.

Quote from @Rich O'Brien: Talk to a lender immediately!