I would also read as much as possible, starting with Brandon Turner's book (The Book on Investing in Real Estate with No and Low Money Down). 

Hi, I am a new investor and I am interested in a property in a low income neighborhood that has 8 standard windows with a few of them broken out.

However, this is an AMAZING opportunity to literally save nearly $100,000 in interest due to the low 3.0% interest rate!

They'll often ask about a shortsale listed at super low prices (often below land value) and then I have to be careful about telling them if it's really available or not.

Don't forget the all-important capability of interfacing seamlessly two ways (reservations and cancellations, reductions in group blocks) when you build it out. 

Generally what is best in real estate is to be able to buy low and sell high, put out x dollars and take in 2x dollars, and there are one million ways to accomplish that.

Taxes are low, communities/schools are good, multiple types of transportation to the City, and many people who work in Chicago live here.Best neighborhoods for your price range: Highland, Munster, Griffith, Schererville, Crown Point (a bit further from transportation), Dyer, St.

“Everybody wants to be a bodybuilder, but nobody wants to lift no heavy-*** weights.”~ Ronnie ColemanKinda like Real Estate....everyone wants to be financially independent or rich, but not everyone wants to put in the time or maintain that singular determination required to not let anything get in the way of accomplishing that goal.

Most aren't interested in low end, non-owner occupied condos, owned by an LLC.With a pref of 8% most of the cash flow will probably go to your partner and there won't be that much left for you.

While that's a low probability chance of happening, it's still possible.