If banks used that rule not many people would have a mortgage.   2.7X is still a safe number.

People get paid way less than in other markets.Don't compare that a 3/2 middle class area rents for 1600 in SA and the same in LA is 3000.

If you are sharing your personal space, you have the right to reject people of different races, religions, sex, people with children, etc.

I have a goal to post at least once a week to get to know you guys as well as make sure I'm consistently learning from people who are smarter than me :)When I started reading and learning about REI I felt pretty strongly about hiring a PM.

I'm all about having strong opinionated people and surrounding yourself with those who are smarter than yourself and who are not afraid to tell you the truth.I would like to obtain and move into a 3rd property(townhome) in a nice neighborhood.

People need to do their own due diligence.  

Florida has over 1000 people moving in a day, our supply is almost non-existent compared to the past and even condos are giving amazing returns (example: we have a new condo purchased at $270k bringing in $4k a month in short term rental income). 

What you are speaking to is a great question and I wish that more people would ask it. 

Chicago real estate is moving quickly and it's honestly no surprise rents are too...with less inventory for sale that also means more people are forced to rent, which in my opinion would drive up the rent.