AI can be beneficial both for operations as well as your taxes.

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

It would really suck to lose money and also have to pay taxes. 

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

I think it is a great idea, steady tenants and a great REI if you are willing and able to take care of it (of course you can have a property management company, depending on what you want to do).

Or, buying a Duplex and renting one side out then renting the other rooms out in the side I would live in.I have spoken with two lenders and both have given me pre-approval letters for up to 270k purchase price, with 15k down payment, conventional fixed rate loan, 30 year term.

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.

Quote from @Randy Vincent: It depends on the market.

$300K should allow you to buy a duplex/2-unit and both doors should be offering a profit even at 15% down.If you are in a situation where you are getting hit with high taxes, high rate, low rents it might be a "Walk away deal".I have to have conversations daily talking people out of buying a particular home because its a bad deal.

I doubt 25% down is realistic, it depends on the accurate property financials, which you do not have yet, but if you need help sizing up the loan once you have those financials, I'd be happy to help with that.Good luck, maybe talk to you in six months, bookmark this thread.