They also handle legal matters, like making sure the property follows the rules or dealing with evictions if necessary.For finding deals, I recommend starting by connecting with investor-friendly agents in your target market.

The 1% rule is an old metric.

The issue I see most is the cashflow gets crushed by HOA fees and the added headaches of having them tweaking rules etc. 

A handy search bar in the upper right makes it easy to find previous discussions, blogs, podcasts, and other resources.

Hi Max, a good rule of thumb is to start with your target market/ideal guest.

For suburbs you really have to search for each cities rules.  

Given that I'm not positioned to buy just yet, and simply running the numbers, is there a rule of thumb for estimating insurance costs that would make sense in Cook County?

In the unlikely event that you are the exception that proves the rule, the rare 18 year old who can actually generate a serious income by wholesaling real estate, your day to day will look like the following: - You will door knock, cold call, send mailers, and otherwise create lists of people who are in the most desperate moments of their lives. 

With the economy of scale in multifamily, each additional unit nets you a little more than the last, as a rule of thumb.

Since you missed the 2 out of 5 rule, capital gains taxes might take a chunk of your profits, so consulting a CPA would be smart to understand how much you’d actually keep.