This is not to discourage the determined investor, but I only think it's fair that people realize the competition in our market for this asset type.

Far too many get stuck in the "paralysis by analysis" stage, thinking they just don't know enough to get started.

If you don't think the up front cost of $30-40-60,000 is worth it, then it is not a good investment.How do you make ROI off solar panels on a house?   

I was thinking I’d start out by renting a room somewhere until I can figure out where I want to be.In the meantime, however, I’m looking for realtors, lenders that knows rehab loans and wholesalers.

leases.The only work I think it immediately needs is fixing the back steps and a few roof repairs.

(I will insist on a contract, but I don't want him to think I don't trust him.)

@Michael Dumler so what do you think of house hacking or turning a single family into a multi- unit in the Bankhead area in terms of cash flow?  

@Curt DaltonBefore you think about moving your business to a big town or a small one, look at what chances you have in your area first.

Hey @Henry Lazerow - I would tend to agree that most of the NW side of Chicago 2-4 units don't play out perfectly well for BRRRR deals.I always looked at any potential house hack vs. having to rent - if my overall payments were less than the rent I generally considered that a win.For me...the house hack is just the ticket into the amusement park and then the fun rides come after...getting started can be overwhelming and hard so I can see why people might take a discount.I think one of the keys to strong equity creation is square footage creation which is basically what you outlined with duplexing up or down.

Remove emotions from your investing decisions and think very rationally.