My brother and I are trying to get into this so we are constantly reading and watching podcasts daily.Does anyone have any experience with rental properties in these area?

We are relocated from east coast.

Secondly we are about to move, and I'm considering a house that would need a more major rehab than we have ever undertaken in the normal course of life.

One thing we are considering is renting spare bedroom(s) to students on their rotations.

We are looking at a 4 bedroom 2 bath that was built in 1893.

I don't consider the leasing fee a profit center given the value of my time, prepping the property, showings, lease, move-in and then the first month or two is generally higher service volume with a new tenant.I believe in most situations we are far better off keeping the tenant happy enough to want to stay put and avoid the turnover.

You can cringe, it's okay.So, here we are. 

Would the banks want the mold and belongings removed before they fiananced the deal, we are looking at a conventional loan with 20% down, priced around 105-120,000.

., and we are in the Chicago area.

We are renovating our rowhouse basement in and will be digging down about 2 feet to achieve 8-foot ceilings and need to underpin.