These are business loans that look at the income from the property, and as long as it covers your PITI, your credit score and reserves .

Enjoy your long weekend!

It helps in the long run to develop the connections plus they know the area well which avoids hiccups down the road.

The idea is to build multifamily rentals to hold for the long term.

Dropping the price further would result in  more loss of at least $50,000 due to agent fees.Questions:Given my current situation, would you recommend selling the property, including offering seller financing, or keeping it as a long-term rental for a few years and then considering selling?

Is there any company’s that you can suggest that you have had good experiences with and trust or maybe another strategy of managing a long distance STR.

I get some low rent today and often it seems in 3-4-5 years the rents work themselves out, but how long does it take for $1000 rent to go to $2000 let's say on a 2bedroom 2bath unit in the less desirable part of town?

It's been 10+ years since I've gone through the City of Chicago permit review process, and I'm told things have changed.In particular, I'm told that I need not only an architect that has Chicago experience, but also a specific sustainability certification, otherwise I run the risk of having a very long review process.Thanks in advance for your help!

I currently just bought my second property (a quadplex- 465k- that I am living in the basement so I was able to get owner occupant financing- doing one unit as a MTR and the other 3 long term.

I wrote a long post about it:https://www.biggerpockets.com/forums/51/topics/1136752-expla...