Louis in all reality I live 20 minutes from downtown on the Illinois side of he river.

Those that are not familiar with the typical S8 social standards may be in for a major reality check.

Theoretically, you could then buy the place, renovate it as you have been calculating and get it appraised afterward for a cash-out refi.In reality, you might find that the ratio you can get out of the costs to buy, reno, etc. versus what you can rent for when everything is done will not leave you any positive cash flow, even if you were able to get your original investment out of the deal.

As @Matthew Olszak stated your reality of expenses is way off..  

The reality is that there is a ZERO shortage of people looking for a good, affordable place to live, especially in the OC.So, 1.

People can disagree but that’s the reality for most people.

If you tell mw your job, how many hours did it take you to save that 9,000. because the reality of your logic is smoke and mirrorsAlso you assuming everyone is making 26 dollars an hour.

Something is distracting you from reality as an investor, any investor would salivate to have 1k passive income from a piece of real estate if this is truly cash flowing at 1k net cash flow per month you would be absolutely bonkers to sell it to free up 40K.

Its apparent that some of these comments were made by people totally disconnected from the reality of poverty.

Not saying your trying to commit fraud but perception is reality for many.