HI Julie,You can always start off by house hacking meaning you live in one UNIT or ROOM and renting out the other vacant units/rooms to offset your monthly mortgage payment.There are several ways to run and make sure you are maximizing your rental income while keeping your living expense as low as possible.

In doing so we determined we needed to upgrade the 50amp boxes to 100amp and took on this additional expense.

. $30-40K is a great starting point but too risky in one of the most expensive RE markets in the world (SoCal). 

I hereby give you 30 days to vacate or qualify for a new lease with the appropriate business name, license, insurance, security deposit, and other requirements.

The building is located in Berwyn, IL... just outside "Chicago Proper" where STR licensing isn't required.

You'll also pay Spark's $59 membership fee 60 times, the LLC maintenance fee 5 times - $3.915 in expenses to use Spark as your "platform. " Net $1,085.

Reduce expenses.

This AC costs $17000 in 2020 and assume will no problem for a long time but most expensive one and shortest time died. 

One of the requirements is to have a trustee. selecting a friend/family isn’t an option for me.

I also got lucky and found a group of people to help me with the eviction, as the sheriff requires a minimum of eight people to do the eviction when it takes place.