I'm looking to purchase a 2-4 unit in northern Illinois, the Freeport area seems to have tons of affordable inventory.

With HMLs and cash in place, it sounds like you’re set up for success as you move into BRRRRs and multi-family investments.

I manage both SFRs and multis in Houston.

While it's exciting to cash in on a successful investment, the looming capital gains taxes can significantly cut into your profits.

I believe that if you are well versed on a specific market, or have someone who is knowledgeable in that market, you can do a successful BRRRR in another market as the local will likely have everything you need to get set up! 

The first thing to do if this is the route you want to take is build a team of rockstars in the city you choose to invest in.

This is a great place to learn and further investigate investing in real estate.

I think it doesn't exist, because youre in a unique situation.

That will take you more than ten years to recoup that cost in cash flow although you should get a strong bump in value.

You also need about 20-30% down on land loans so keep that in mind!