@Jordan BrownWith $50,000 saved and no debt, you have a strong starting position for real estate investing.

Investing in real estate is a great way to generate passive income and wealth if you are in a position to do so.

If they push back, give them the full 90-day notice.

With that said, I am in the position where I will not need a monthly income from my rentals.

.✅ Ensure your mortgage allows renting—some loans have restrictions.If your financial cushion can handle these factors, you’re in a great position to rent out your home successfully!

Look forward to hearing your ideas, growth and positive connections!

Quote from @Jaycee Greene: A few things I noticed, in addition to having the tenant pay the utilities are:1) Incorporate annual increases in rent higher than 2% (in your area, maybe 4%-5%) with a slightly smaller increase in operating expenses (say 2%-3%)2) With a gut rehab, I'm not sure why you need to spend $128/month on cap ex, at least for the first year or 2.3a) An 80% cash out refi is probably going to be hard to get.

Has anyone else noticed a significant increase in their Chicago water bill recently?

It sounds like you're in a solid position, and taking the time to stabilize before moving on to the next deal is a smart approach.

Net migration is still positive but has slowed from the crazy net migration numbers during the boom years.