Interested in to see what your opinions are on an idea of mine. I have a sfh home with a detached garage at the rear of the property, the property is a corner lot with an alley behind the garage so there is access fro...

There are too many variations that could make this increase or decrease based on project complexity. 

If you make a mistake, your losses and problems can dramatically increase.

My 9 to 5 job is sales and I have grown increasingly frustrated with the prospect that I am making millions of dollars for somebody else when I could be putting the same effort into my own business thus,  have recently decided to go all in with real estate investing.I have a decent understanding of the process but I am stuck in the analysis phase of how to generate leads for a few hundred to a thousand dollars. 

Was looking at something in Pilsen like this as well: https://www.redfin.com/IL/Chicago/1712-S-Morgan-St...But I guess over my last 4 years away from the area, it's really become a trending area that has increased in costs substantially.

Rising Labor Cost, increased government spending, and prolonged housing shortages are the main pressure points.Inflation is picking up and looks to increase over the next 18 monthsa mortgage rate jump from 4 to 4.5% and 60 bucks a month to a mortgagerent increases have exceeded 3% annually over the last 4 yearslow unemployment, rising house cost up 3% over the last yeari believe this is why there is such a demand for rentals now.

I am doing some demo and reconnecting office space to increase the total area.

Rising labor costs, increased government spending, and prolonged housing shortages are the main pressure pointsinflation is picking up and looking to increase over the next 18 monthsA half percent mortgage is increased equals about $60 per month more in a mortgageRent increases have exceeded 3% annually over the last 4 yearslow unemployment, rising house costs up 3% over the last yearI believe this is why there is such a demand for rentals now.

Second, it will increase my gross income and my ex-husband can request to have child support recalculated, according to our divorce agreement.

@Rich CavanaghHi Rich,I think because a lot of people don't really do a projection of Rents and Expenses, they don't really know that if your Expenses INCREASE MORE than your RENT, you can still wind up Increasing your Cash Flow.Look at this example spreadsheet as an example:The Gross Rent is only increasing by 3% annually for 10 years.The Expenses are increasing by 5% per year for 10 years.BUT, because the Gross Rents are so much higher than the Expenses, about 5 times higher, a small increase in Gross Rents is larger than a "Larger Increase in Expenses."