Why haven't any of the BP podcasts mentioned this?

Yet for owners of rental SFRs, duplexes and condos—not to mention retail and restaurants—COVID-19 threatens to reduce landlords’ rental income, perhaps entirely.

And keep in mind that the rate on the 2nd lien will likely be 10-12% so depending on the cash flow it might not actually yield that much cash to you at closingMore importantly, it's just more debt so ultimately it sounds like you need an income-producing event to actually improve your situation and avoid some of the consequences that you mentioned

I should mention my dad is a disabled vet as well and is maybe interested in growing a portfolio too so we could team up.

A couple other neighborhoods I like besides the two you mentioned are Washington Park, Hyde Park, Woodlawn, and South Shore.I think that area will continue to be gentrified because you have the lakefront as well as CTA trains.Is there any reason you are targeting Chicago instead ofdoubling down in Kansas City?

Would be happy to meet up and discuss your goals in more detail.Glad you said it, I didn't want to come off as being negative@Jackson Harris  the Phoenix area may not be for you with that kind of money yet for all the reasons Scott mentioned. 

I should have clarified when I mentioned the housing is for individual veterans.

You mention tax benefits.

Thanks for the mention, @Michael Plaks! 

Love seeing good things happening in a neighboring city.Curious, you mention converting this to apartments?