You’re better off spending your money on quality lead generation and tools that actually work.

The outstanding notes on the parks are $275K.

The reason I have chosen to start with 2-4 units is because they qualify for FHA loans and I do want to house hack through this process as well so I would be living in a unit for at least a year (meeting the limitations of the fha loan), getting to know the tenants coming in to occupy other units and understanding exactly how it is to live in the property to be able to provide the best quality of life for the tenants.

All of this will be packaged in a very sleek and modern design with high quality rubberized satin finishes and UV spot gloss artwork.

@Ken BooneThank you Ken, this is outstanding information.

I'm guessing most of the people in real estate have a lot of those same qualities!

It’s a great system provided you buy correct, rehab timely and on budget, find a quality tenant and can refinance quickly.  

Inspection quality and aggressiveness can vary among inspectors.  

While it may cashflow now, my concerns would be higher maintenance costs and tenant quality/stability issues that stem from the overall functional obsolescence that's present in a lot of Chicago's 100+ year old housing stock.

For investment real estate, besides the quality of real estate itself, such as location, construction, layout etc, liquidity is the key.