The basic rule for the amount of cash to have at hand is 3 months of ALL expenses as if the rental was unoccupied and you had to pay all the utilities on top of the full Primary mortgage, Interest, Taxes, and Insurance (PITI).As well, it's pays to have a bit more because life happens.Good Luck!

In the prevailing market conditions of Chicago suburbs, are there opportunities that adhere to the 1% rule, ensuring a positive cash flow in 2024?

Can you paint me a picture of what you do to create the best experience for yourself and then? 

Does it have to be created in specific states to remain anonymous?

The expansion is also expected to create 50 new jobs.

Trying to figure out how to proceed I have an SCorp already that was just created, I will have to see if its serving as an LLC as well if thats a thing?

@Dennis Hill if the house meets standards of that size family, enough beds baths and room size for children, then follow your standard rules, like I make anyone 18+ years of age qualify on their own unless they are a dependent of main tenant (prove with current tax return).

The tax rules for the two are quite different.

In order to create rental revenue that can cover living expenses and provide positive cash flow, it entails buying a single-family home and renting out the individual rooms.

Here is the golden rules: invest for cash flow first, appreciation second and cost seg benefit third.