Purchase price: $160,000 Cash invested: $230,000 Sale price: $275,000 A full rehab in Romeoville.

It is hard to pay the price of a ready to rent property and get it to cash flow.

Use a cash out refi to reinvest into more long term rental propertiesTake out a HELOC for a flip/other short term gain opportunities 

Also for those with section 8 experience, how much work is usually needed to pass inspection, how long is the property usually vacant for and where can I find assistance for the steps along the way and all the paperwork.  

You'll have difficulty selling it and breaking even with disclosed leaks.OPTION 1hold on with long term rental strategyOPTION 2Increase your revenue with 1 furnished MTR for the medical groups. 

As long as you are in your due diligence contingency you can back out with minimal expense.

It seems that things work pretty smooth until something bad happens to the home, then it can turn into a "phone call" nightmare really quick, and it did.Now, we are thinking about long term renting.

Purchase price: $250,000 Cash invested: $62,500 Brand new build: Appraised at $310,000. at closing the builder financing and buy down of 1% put the 30 year fixed financing at 5.75% investor financing with 20% down.

We are planning to buy a rental property for long term rental  putting 50/50 for the DP.

Purchase price: $200,000 Cash invested: $40,000 First investment property - higher end rental in my market.