Plus, very important to understand the new layout and how the dig down will effect the existing stairs, plumbing, etc.Happy to connect and talk through your specific situation because @Bruce Woodruff mentioned every project is different and know one price fits all espeically with these complex jobs.Where at in Chicago is your building?

This would include doing mainly flips so i can get a solid return from that money or possibly even doing private money lending. 

This consideration may be worth it in terms of approaching local banks or credit unions with an understanding of real estate investment because they are generally flexible in offering loans compared to national lenders.

Look into local tax incentives and financing options, and reach out to local real estate groups or mentors to better understand the market.Good luck!

From what I understand HOA/POA dues don't get wiped out with foreclose sale in FL, so if you see a $150,000 condo get sold for $50,000, could you still owe $100,000 in back HOA dues and special assessments?   

I will look into these elements for this property to get a better understanding of what my options are.

Once everyone understand the mechanics, and the results for all: they'll keep coming back to the table!

All, I understand that to be a property manager in Colorado you must be a licensed realtor. 

You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

For real estate investors, adapting to these changes isn’t just about avoiding fines—it’s about protecting your investment and maintaining a solid reputation.