They owe 90,000 with 670 monthly payment. the house is worth 160,000 as a 3-2 with 2 car garage. property is in great condition. the house they want will require a 60k down payment and they may still qualify with another mortgage but i cant guarentee it.I cant buy it from them because my DI ratio is maxed as i have 2 HELOCs on my rental properties along with 3 mortgages including my personal property. my wife is a stay at home mom and I own my own business, qualifying for a mortgage is insanely difficult with no W-2 income.

They owe 90,000 with 670 monthly payment. the house is worth 160,000 as a 3-2 with 2 car garage. property is in great condition. the house they want will require a 60k down payment and they may still qualify with another mortgage but i cant guarentee it.I cant buy it from them because my DI ratio is maxed as i have 2 HELOCs on my rental properties along with 3 mortgages including my personal property. my wife is a stay at home mom and I own my own business, qualifying for a mortgage is insanely difficult with no W-2 income.

I like to see my clients "buy equity" by getting something that needs a little TLC.

The tenant is completely agitated and is becoming difficult with his tone.

@Brad Penley some suggestions I always try to get my client to take when buying a property that will require flood insurance due to your loan is, 1) make sure you understand if the property has ever had a flood, If so what year and how the water got in the structure and if the damage was repaired, also good to know how much the claim that was paid.

@Devin Londo , getting $1,000 cash flow per month with 500k Invested is really not difficult in Chicago.

Difficult to manage, consistent late, professional tenants, longer vacancies and evictions are all too common.

My clients are seeing many more price reduction alerts than new listing alerts in the emails they receive due to rates rising and seasonal timing. 

Acquiring 6 rental properties in 1 year isn't easy.It doesn't look like you will be slowing down anytime soon so I would look for an accountant who is well versed in real estate taxation.You may want to ask him how many of his clients are real estate investors. 

Hey all, I'm trying to find the owner of an Illinois property and it's proving more difficult at the first attempt than here in WI.