Check your local (city) municode to see applicable zoning rules/permitted uses.

Looks like mortgage is over $4K/month on a 30 year mortgage.Purchase Price $950,000Down Payment $70,015 7.37%Mortgage Insurance 35000Closing Costs $18,000.00 4% $18,000.00Interest Rate 4.25%Term in years 25Financed Amount $914,985Payment $4,956.82Renovations/Repairs $20,000Out of Pocket Costs $108,015Monthly Assumed % Manual InputRent $6,000Property Mgmt $480 8.00%Vacancy $300 5.00%Maintenance/Repairs $180 3.00%CapEx $45 0.00% 45Insurance 50 0.00% 50Property Taxes 419.7 0.05% 419.7Rental income tax 0.0 25% 0.0Expenses Subtotal $1,475"Annual % Increase(rent + expenses)" 2.5%1% ruleGross monthly rent should be >= 1% to total purchase price0.63%GRM (Gross-Rent-Multiplier): the lower, the better13.2Cap Rate (Net operating income (annual) / total purchase price): the higher, the better5.72%Net Income After Financing (/mo.) = Net operating income - financing costs-$432years Monthly CashFlow1 -$4322 -$3183 -$2024 -$845 $386 $1637 $2918 $4229 $55710 $69511 $83612 $98113 $1,12914 $1,28115 $1,43716 $1,59717 $1,76118 $1,92919 $2,10120 $2,278 

As with any mentorship program, they are costly, but want to make sure it's providing value before I decide to join.

Go to the nice ones (ARV) and the crap ones (repair costs).

This means thousands of dollars more in engineering, surveyor, and architectural cost plus months of extra work.Original 2-story garageHISTORIC CONSIDERATIONSTo complicate things further, the structure is located within a historic district.

Feel free to reach out if it might be worth looking into

i was just reading over it and looks like you cant rent it shorter than 7 days and looks as thought it needs to be zoned b1 and up but anyway in my opinion str wont make any money in the area the occupancy rates just aren't there to cover the costs. i mean if someone what's to do it by all means have at it but im out.fox lake is limited to i believe 60 rentals at any given time but again if you look at the Calanders of the existing listings they're just not booked very much  

You can use the proceeds from the bridge loan to cover the down payment and closing costs on a new property, which enables you to buy a new home before the first one is sold.

I wouldn't want a property in Hillside if you gave it to me for free. 

Could I go after his mother for these costs?