Chicago cap rates are actually much higher then other comparable sized cities.

If you're both in and this is your best option, go for it.On the other hand, looking into multifamily buy & hold properties could yield similar results with less hassle.

Investment Info:Single-family residence buy & hold investment.

A broker shall not be responsible for supervising, nor shall the licensee be responsible for operating, within the scope of the brokerage or within the requirements of this chapter, activities that would be considered property management, including leasing, maintenance, and repair, so long as the real estate being managed is "individually owned" or "entity-owned" as defined below:(1) "individually owned" real estate is real property in which the licensee holds an ownership interest; and(2) "entity-owned" real estate is real property owned by a corporation, limited liability company, partnership, or trust, within which entity the licensee holds an ownership interest as an owner, trustee, partner, or officer, or in another beneficiary capacity.

I tell this to all of my investors - whatever you buy in Columbus Ohio, you want to hold for the rest of your life!

•If there are restrictions, consider whether you’re comfortable holding it vacant or living there short-term while preparing to rent it out.

As our team has grown, it's become easier to cover responsibilities if someone quits, goes on vacation, or if we terminate employment, compared to when we had one or two homes. 

But in my experience, you would be better off spending that same amount of time/hustle working a second part-time job with guaranteed income, then investing in buy-and-hold properties. 

Investment Info:Single-family residence buy & hold investment.

You will never get a hold of anyone at Zillow.