There's not alot of middle class people in city of Chicago, so if you are buying in the city you either have to be section 8 or luxury.

This won't allow me to retire in luxury but will cover all of my basic expenses if something were to happen and put me on the sideline for a while.I started in 2016 with a  Duplex that I bought in Minneapolis with a 3.5% down FHA loan.

I REALLY feel sorry for these guys because they HAVE to conform to the Hotel laws, including sprinklers and egress, plans for evacuation, etc.HOWEVER, these hosts circumvent the building code by re-classifying what is a defacto Transient Occupancy business such as a Hotel as if it is a long term residence.This is dangerous not only to the Guests because they wouldn't know that the apts do not have a mass evacuation plan, etc. but to the neighbors who paid money, sometimes millions, for their luxury condos only to find out they are living next to a hotel in the next apt!

I am really looking for general areas, prices and types of lodging in order to get a more precise idea on what we should focus on when we come to buy next year.

Hi everyone, I am looking to connect with some real estate developers in Los Angeles who do not focus primarily on luxury homes or big apartment or condo developments, more general SFRs.Thanks!

For instance, some extremely high luxury properties are often better off with a top notch management company because they are able to produce a substantially higher rental income than self managing.

It’s a little more work because you have to remit lodging taxes, but other than that we haven’t had any problems.

I live way below my means to save money, meaning I rent an older, dated duplex, even though I could more than afford to live in a luxury bulding if I wanted. 

I do SFR only, as my rents are about 70-80% of a worn out duplex at the same price, tenant feel more at home, stay longer, and take better care of the places in general, I know thats not always the case, but by and large, thats been my experience, Rehb then with the least CapEx going forward, make them warm welcoming and reduce the stuff that is likely to break, for example, I pull any fans and put in new light fixtures, with LED Bulbs, I use Luxury Vinyl flooring throughout (no carpet) I replace faucets, and mixer valves(at least cartridges) and replace toilets, or at minimum fill valves and flappers, we also put in new switches and receptacles, we never do fridges with water and Ice, my tenants love their homes, they are clean fresh and comfortable. 

On top of that you pay almost 15% in lodging taxes.