As you compare the city to the suburbs, keep in mind that taxes are higher in the near west suburbs, so the lower purchase prices can be deceiving.

So you want to be mindful about what you are representing to the consumers (e.g. are you a luxury contractor or a value contractor, etc.). 

I don't mind using leverage to get there but whatever you do don't be over leveraged before a crash in the economy.

Bpeace of mind, less time, less active management

I don't know much about the area and understand the buy and hold goals.What gets lost in the buy and hold investor mind many times is the potential upside when the property is sold.

Do you mind sharing their contact with me? 

Loosing 1 month of rent (never mind paying commission to get a new renter) would lower your annual return to 5% and 2% if you have to pay a commission to re-lease it. 

There are only handful of lenders offering such financing, here is a list I was able to assemble over the years:https://www.biggerpockets.com/blogs/2810/50272-lis...Also keep in mind that if you use leverage in an IRA, portion of the income will be subject to UBIT (Unrelated Business Income Tax).

Keeping in mind it would be wiser to be diversified than all in with real estate.

With that in mind, any favorite places you guys have been lately?