This should give a lot of potential investors something to think about, as it could completely revitalize the neighborhood.Alderman Arena, in my opinion, has great intentions for the neighborhood but has deserved some criticism, especially in how he's handled the development of the 5150 N Northwest Hwy project.

I'm not quite living for free yet but at least I've reduced my monthly expenses and also by remodeling my basement I'm gaining experience of working with contractors which will help me with my goal of wanting to learn how to BRRR down the road. 

1- Secure contract with purchase price and terms2- Send contract to title (search and insure)3- Draft note and mortgage (you'll need a lawyer to do this- less than $500 likely)3- Seller uses proceeds (your down payment) to pay-off  the lien (The title company will handle all this)4- Close the transaction5- Establish payments to sellerYou'll want to make sure there will not be a delay between the payoff of the 1st lien- executing the "lien release" and closing your transaction- will require coordination.

I wouldn't think there are any laws that require a landlord to handle removal of ghosts but there could be somewhere you never know they might hold you liable for their insanity if you don't do anything to remove the ghost so be careful.

It might be a good idea to hire a bookkeeper to keep your books regularly, rather than the person who is actually handling the money.

The house is solid, with no nightmarish issues costing us big bucks, or rather, nothing that I couldn't handle myself, with my ever-expanding renovation background, for basically peanuts.

How do you leverage your capital gain and what would be the best way to handle your returns?

Was told by boots on the ground that liens would be negotiated down with city, and after a month was told that liens had been reduced to $2000.

The excess we save and if we have vacancy or repairs, we got cash to handle.

I list with a great local realtor and he handles everything.