It's a lesson in always creating a paper trail and getting everything signed and in writing.

While at the store you don't think much about spending $5 on a blind or $40 on an above toilet cabinet, but when you sit down and calculate everything, it kid of just hits you like a ton of bricks.I have never thought about buying out of state.

This property looks good on paper.

I remodeled my own home and went all-in on energy star appliances, high efficiency AC, hybrid water heater, low flow toilets, impact windows, insulation and low flow plumbing fixtures.

Not specific to Chicago, but one of the most important addendums for me is about clogged toilets/drains.

13.Once we close the deal what type of documents do we get and are they electronic copy's or paper?

@Bill HenleyFrankly, a pre-approval letter isn't worth the paper it's written on.

My vinyl planking:  http://www.homedepot.com/p/TrafficMASTER-Allure-12...This flooring will cover a 13' x 14 bedroom, continue into a hallway which opens to a 6'x6' vanity area, thru a doorway into the toilet/shower room.

When I was looking for my first flip, I had a number of realtors just take out a piece of paper, write down 3 or 4 factors and say that's your profit.

So the "cash flow" on paper isn't the end of the story.