.✅ Stronger Tenant Relationships – Being involved directly allows you to build rapport with your tenants, which can lead to better communication and longer leases.Cons of Self-Managing❌ Time-Consuming – Dealing with maintenance requests, late-night emergencies, and tenant disputes can quickly become a second job.❌ Legal Risks – Chicago has strict landlord-tenant laws.

However, your lending choice will ultimately determine the best route, as rehab costs may consume a portion of your $50,000 investment budget.

Don't forget to annually mark time for vacation or family time.You might consider hiring a teenager part time if there's something that is time consuming (for me, putting out 20 open house signs then picking them up).Best to you!

Unless you make the theme of the house around that famous person, I dont think consumers will pay a market premium on ADR to stay. 

I consumed a lot of Pace's content and eventually saw this video with Kevin Choe and Josh Boenzi. 

Or like California a RE Broker like myself or Consumer finance license all which are regulated by the state .

The seller must've been very motivated to retire...are you buying any residential properties now or does this project pretty much consume all of your attention these days?

This negative position can consume years of cash flow to recover.

For a few thousand dollars in rent, it is worth the call.If you don't get satisfaction there, credit card companies are regulated via The Consumer Financial Protection Bureau (CFPB).

Time ManagementReal estate can consume all your time with endless tasks—client meetings, marketing, and paperwork.