Yes, all deals are in the Bay Area.Learn to play the game well while learn to minimize your risk.

This is where my questions begin:I am looking at finding a property or two that can be used for MINIMAL cash flow in the first year - obviously both come with a little risk but wanting to put as little down as possible - to have some in reserves if it takes a while to build up or get rent coming in: for your knowledge these units are in the greater Chicago land area.Option 1 - 1 bed 1 bath condo - Investment Property - Listed at 170,000 good shape - needs no work and could be ready for rent right away - currently empty - looking at about $34 down plus closing costs (another 5 or 6K?)

This house is around 700 sq/ft with a sagging roof, 1 interior wall separating this area with the kitchen, minimal floor joists, hardly any electrical and no plumbing.

Key is to minimize them.

I'm looking for a way to help him keep a beautiful home with minimal risk to either of us, but hopefully also make a small return in the process.TLDR version: $1M property value, approx 15-20% equity.

I would say bigger is better when it comes to DCR so to minimize downside buy a more stablized, cash-flowing asset with strong in-place CF.

Expenses are minimal (Maybe $3-5k for the year is our estimate).

So we have a tenant that we inherited who is paying minimal below market rent for almost 3000 sq.ft.

But maybe you can survive if you only have one property with minimal activity.  

We are seeing the average 3 bed 2 bath with minimal rehab running in the 150K-200K range and property taxes are currently low, creating a good opportunity here to prop up the rental market which is slowly running out of supply to the increased demand.