Here are some thoughts I hope help.The benefit of selling now is that as an inherited property you will likely pay no taxes because you inherit it at a stepped-up basis.I'm not a huge fan of buying a house that has lot rent.

Congratulations on starting your real estate investing journey—that’s such an exciting step!

Any suggestions on where I should take my next step in the right direction. 

so every step is tougher.2. you don't really compare the interest rate when purchased and the interest rate when refinancing - that is apples and oranges. 

I’ve been diving into real estate and learning every step of the way.

FHA might be a good first step if you're strapped for cash.How long do you plan to hold the property?

Are there specific steps or systems you follow to ensure it’s done correctly?

When I asked what happened with the applicant, they took weeks to inform me that squatters had moved into the property. 3) When I asked for a copy of the court paperwork they had filed (to ensure they were actually doing something about it and to discuss with my own lawyer), they reassured me vaguely they were taking steps while they moved slowly without telling me what exactly they were doing.

I feel I have a rough idea, which is..I'm in Rogers Park, my next important step is to wait out 1.5 years until I can fully rent out the condo, but for the meanwhile get a roommate to save more money.

I’m working toward my first deal now, and your story reminds me that success starts with stepping into the unknown.