@Jennie Berger gave you the whole kit & caboodle on Chicago zoning so I don't have a ton to ad, however, I'd highly encourage you to engage an architect like @Samuel Pavlovcik or @Prashanth Mahakali, both are awesome local Chicago resources.

•Tenants demand prompt, high-quality service and without caring about cost •Vendors seek to earn as much compensation for their work as possible.Balancing these needs requires thoughtful stewardship, strong communication, and a commitment to fairness.

Hey Jadan,Here are some high level thoughts:1.

Rates are high, usually in the high 8s or low 9s, and you may pay 2-4 points on the loan. 

Kudos to you for doing something to create a secondary income stream. there are 5 income streams in RE rentals, possibly six if you do things a certain way.The reality here is your model (buy box) is suffering from too high an entry and too high a cost of capital.

I'm just getting my hands on real estate investing, I know it's not a good time with high interest rates 🤦🏻‍♀️but I'm looking to get something by this year.

My suggestion is to buy a property worth more than $1M since anything cheaper for 4-plex will not be high quality.

Purchased a little too high at the buy (I knew it at the time too), does a little better than breaking even on cashflow, and took too long to rehab.

It's probably going to mean paying points at closing, a high rate, and a serious pre-payment penalty (like 5 years). 

You have to have exit values of single family homes high enough where build cost can work.