We pay them back at close.For people/teams that do something similar, I'm curious what software you use or spreadsheets you've created to: Track cash current cash flow and projected cash flow for the whole business that including fixed costs like payroll and variable costs as well. 

If your numbers are still good with these variables then pull the trigger. 

There are way too many variables that are out of their control in that scenario.We’ve now invested in about 4 states.  

Hi Adam, we do everything in-house from the permitting & architectural to the construction itself, so that removes a few variables.

There are just numerous variables and calculations you must analyze to check. 

While every forecast involves variables, we strive to provide the most realistic and actionable data possible so every owner can make the best decision for themselves.We take pride in our transparency, dedication, and commitment to creating successful partnerships.

Tenants can be frustrating (to say the least)... and the situations that come along with them - from stopped up toilets to evictions, among many others, present challenges.I wouldn't recommend a Heloc for a long term hold as the rate is variable... and over 4 units you will require a commercial loan if going the traditional route of financing.  

There are a lot of variables to consider so it's impossible to say if investing in one of those other markets would have been "better".However, I think you could make a stronger case that you have been (or would be) more successful with your real estate investing in Chicago compared to other markets.

Even though there are multiple variables to assess here, what's the age of the property? 

There are too many variables that would go into that algorithm to get a handle on it without actually seeing it.The bottom line is that a good owner can remain in the top of the rankings on both platforms.