Chicago is indeed a vibrant market with many opportunities, especially in the multifamily sector.Here are some tips and considerations as you prepare for your move and property purchase in Chicago:Research Neighborhoods: Chicago is a varied city with a wide range of neighborhoods, each with special qualities and investment opportunities of its own.

Another avenue to consider would be "subject to" deals but those are not widely available and can take some time to sift through the overinflated offerings to find the right property.

Unless you are doing an A grade area, just get a better quality paint that covers in one coat.Cutting in: This I've always hated, but the job is easier if you get a nice wide, quality brush and a bucket you can hold in the other hand.

We have an approximately 150 acre farm with a 30 year old double wide trailer we are living in.

However, one should note that the specific terms and structure of the promote can vary widely based on the deal, the market, and the agreement between the investors and the sponsors.

I’ve experienced a wide variety of permitting/City planning tar pits in my construction career.  

You mentioned a wide variety of interests - so my suggestion is to focus on one or two that really resonate with you and dive in.

City of San Diego has crazy upzoning but instead of isolating it to where the infrastructure can handle it (my preference), they do it city wide.  

So, your options now are wide open.

Tax expenses also vary widely by investor, and since NOI is specific to the property, not the person, do not include it.NOI equals all revenue from the property, minus all reasonably necessary operating expenses.