Yeah the IL property taxes are one of the biggest downsides of buying in Illinois.

They have failed to renew my entities with the Secretaries of State multiple times, have billed me wrong amounts, and GREATEST OF ALL, have cost my business ~$50K in cumulative TAX PENALTIES due to negligence in filing for a tax extension, failing to walk me through my tax filings and needed payments, and failing to file an abatement promptly.

The investor generally needs 6 months of "reserves" or savings of mortgage, property taxes and insurance (and HOA if applicable).

Does it being in at least $7,200/mo in rent to cover 1.2% DSCR loan if you put $275k down and the insurance/property taxes/utilities are under $500/mo?

Please feel free to PM for more details. 

feel free to connect if you need more info. mot a relator im an investor and contractor here in Pittsburgh 

Sign up for a free account at multiple lead broker sites.

(biggerpockets.com)   is inaccurate:"Many readers who are familiar with real estate investing and primary residences will be asking questions about the tax impact of selling a primary residence.

I work full-time as a CPA audit manager at a Big 4 public accounting firm, and in my free time I would love to help and learn from an experienced investor with strategies similar to what I’m interested in (appreciation, single family (potential multi family), mid-term rental (potential short-term)).Open to any advice as well on how to make my first leap into actual investing!

@Jorge F RodriguezI would make sure you live in it for at least 2 years to avoid capital gains taxes, then sell the property.