If it would support being a living area (dry all year round, decent height ceilings) maybe make it into a TV room or a 2nd living room with some faux stone, apartment carpet and 2nd hand mirrors from over old dressers.

For either city I am open to long term rentals but would prefer if one unit could be used as a short term rental so that during my visits I can used it myself.Neighborhoods to consider for STR in Chicago Proper- Just about anywhere North of 290 except maybe Austin and West Garfield Park; Some good targets south of 290- Lower West Side; Bronzeville/Oakland; Bridgeport; Woodlawn (Near the University); Hyde Park (Needle in a Haystack); Kenwood (Needle in a Haystack); Grand Boulevard 

We have an investors meeting on the fourth Thursday of every month at Keiser University.

BTW, we love this market because we've got a major university a few blocks away, Fortune 500 employers in the area and other factors which drive constant rental demand.

Under MLI Select it said Purchase/refinanceOPTION A: 80% of units: maximum rent is ator below 30th percentile of rents (CMHC in thesubject market) for units of similar type (numberof bedrooms)OROPTION B: Project approved under otherhousing programs/initiatives (municipal, provincialor federal) that provide support for developmentof affordable housing such as capital grants,municipal concessions or expedited planningOROPTION C: Social housing projects with upto 5 years remaining on operating agreement:additional criteria applyNote: For all options, the affordability of designatedunits must be maintained for a minimum of 10 years.Affordable units are subject to provincially allowableannual rent increase or CPI.Pretty vague description and doesn't speak to the point system so i'm waiting to hear back for clarification.  

Purchase price: $241,000 Cash invested: $80,000 Sale price: $542,000 Live and flip near a university town in California.

We also do build for rent in Murray Kentucky, close to Murray State University.

. $12k, plus an annual bonus that averages to roughly $1k/month (if that can be factored in)Current monthly debts (including mortgage, property tax, insurance, car, child support): approx. $3.5kDebt-to-income concerns:Time for some napkin math for a concern that makes me worry whether this goal is actually possible...Assuming all goes as planned, I worry about eventually hitting a wall where I'm unable to qualify for new mortgages at a certain point due to how the investment properties' mortgages will affect my debt-to-income ratio. 

UNIVERSALLY is this:Know your numbers.

I'd like to get both opinions and some supporting regulations regarding this matter of bedroom count in a property.