Investment Info:

Small multi-family (2-4 units) buy & hold investment in Chicago.

Purchase price: $164,950

My introduction to real estate, did the Live-in and renovate property strategy. I watched vi...

They come with terms such as required living in the home for a certain amount of time but if you break those terms you just have to pay back the money with a small fee.

I almost believe there should be a rapid eviction program to go with the rapid rehousing program, you break the rules you are out, no benefits. 

But if they just threw some lipstick on a house that still needs all of the mechanicals updated, then the cashflow is probably going to suck as those mechanicals all start breaking down.For a newer investor, I'd take an easy base hit to begin with. 

It is possible that I may need to raise their rent by $350 just to break even. 

This story is HUGE but I'll try to keep it brief.June 2019 a woman signs a 12 month contract that says she must get electric and gas in her own name prior to move it and no one except her can occupy the unit (she breaks all 3 of those)Unknown to me - the man now squatting moves in with the former tenantJuly 20, 2020 she suddenly has a huge amount of cash and pays over 5 months back rent - never pays rent again after this dayJuly 23, 2020 booked for a crimeFeb 2020 person moves into cabin next door and somehow put wrong cabin electric meter in their nameNov, 2020 she's jailedMay 2021 my dad arrives and slowly starts realizing the scope of the problemJuly 2, 2021 I arriveJuly we get Real Estate One to be property managers starting Aug 1, REO agent meets with 2 current tenants and gets them on new contracts, REO makes a deal with squatter, he agrees, he never shows up to the REO officeAug 9 post 7 day notice due to non paymentAug 16 court house says can't because COVID, try 30 day notice to quit - post thatAug 17 hand 30 day notice to quit to squatter (had to bang on his door at 7:15a to catch him as he'd been hiding from me for 2 weeks)Aug 19 figure out squatter's cable is in the name of jailed tenant's daughter who lives 2 counties away with her legal guardian (yet Spectrum refuses to cancel service)Aug 20 figure out the electric meter mix up. next door unit moved out in June yet was still be charged electric. why?

Some people just don't know how to break down boxes and other bulky items.

I think his body produces natural caffeine.

Most break it out by sf.

More tech = more things that can break.