I haven't seen any rents for these types of properties above $2000/month, and they all seem a couple hundred dollars in the red for monthly cash flow.

Hello everyone, I’m pretty new to BP and would love to build a team for investing and network to build quality relationships with people in Logan Square, Chicago.

Privacy laws won't let you do that.You would have to message each person individually... and if you do that, you are just way better off sending DMM to that person and so you are back to square 1.

They may shape up for a bit while they figure out who you are but they are likely to get right back in the red and it may come quicker than you think.If they are not 100% by the time you close, I would collect their first month's rent (make sure it's good) and then serve them notice to vacate.It's common for new Landlords to say, "I don't care if they're bad tenants because I'm getting such a good deal!"

I would like to know more about how they are able to offer such a low cost per square foot.Thanks 

At the end of the day it is still a decent return even though I was shooting for getting all of my money out Lessons learned:I am a bit more experienced at budgeting rehabs Learned how to analyze rental comps better Underestimated my closing and carrying cost, which I will now be able to accurately calculate When taking a property with a tenant on a month to month lease that should be a red flag.

I'll describe it as having a downtown that is the classic "square model" similar to Medina, Ravenna, and other towns around Ohio.

Youtube search "car sales four square technique." 

My goal would be to bring in enough rental income to offset the expenses so that I can reduce my housing expenses as close to zero as possible.I've seen some scattered info on the web that deducting taxes from owner-occupied rentals is a bit different (square footage versus # bedrooms rented out versus pro-rata, etc).

No Aaron, it's a main floor roughly 1500 square feet that's been divided using a hallway with doors on each side totaling 6 separate offices.