I recently found a great investment REO multi family unit building that is in relatively good condition (from the outside at least) and although it is an REO, there are tenants still in the building.

It's been relatively flat out here in SoCal.

shortly there after, i hired a property manager, built a relation ship with a set quality contractors and found ways to automate the business.

You want to easily evict your tenant buyer if they stop paying, but you want the deal with your seller tighter.You would, hopefully, collect a relatively large option fee from your t/b and give a small one to the seller.

For 2011's tax purposes, the rehab and its related expenses (rehab costs, taxes, insurance, electric bills, etc.) will be counted toward that home and as "inventory."

I'm trying to find out if someone related to me has ever owned property in Illinois, specifically, the Chicago area.

Remember Real Estate agents typically have an exclusive agreement to buy or sell and will get paid if a transaction gets done independent of who other parties involved are, while lenders only get the origination fees if the transaction is done with that lender.As a “Colorado Hard Money“ lender for non-owner occupied investment properties, we feel it is fair to charge a small fee to cover expenses related to estimating the value of the property, estimating the repairs, inspecting the property, and credit and background checks.

I assume you are primarily interested in real estate related businesses.

While interest rates should be relatively low for a year at least, they will rise one day.

While you might be constrained to stocks and bonds by your 401k plan at work, other than a relatively few prohibited investments such as insurance and art, I’m not aware of any after tax investments you can make that you can’t also shelter behind a self-directed retirement plan.All of this assumes you don’t need the money soon, say for health reasons, but you didn’t say that.