This tends to be a bit conservative, but I'd prefer to be prepared for when vacancies do occur.I also estimate on average about 5% for CAPEX, 10% for repairs and maintenance, and 10% for property management.

You need to get creative.

The deals are out there.. have patience and be prepared to move fast when you find it.

As with most locations, it is likely seasonal so be prepared that it could be vacant during off-season, or at least your rates will be a lot less.Start with this expense/asset items and analysis. 

@Raul R.Just responding to "if it doesn't go as planned" I can cover the payments with my job and plan to live in one unit, I'd be saving money considering my current rent, the numbers are not the issue I am just seeing if something creative might be better then to use a bank mortgage

You should check out the Chicago Creative Investors Association run by Jane Garvey.

At the end of the day, there are deals in every market it's just in these times you have to get a lot more creative and make a deal.

What excites me the most is multi-family, BRRRR strategy, and any sort of creative financing to make a deal work.

The exit strategy should have been outlined at the onset of the project so everyone would be prepared for a plan B or plan C.

Get creative!