The demand has raised the price in the past 2-3 yrs.

As you probably already know, it's great place to raise a family and has the best schools in Illinois.

at $50 a month, it's not worth it because if JUST the dishwasher goes, that's 6 months worth of profit.you should try to bring expenses down and raise rent (by whatever means) to get a higher cashflow.unless it appreciates, of course. then i'd keep it even if i lose $50 per month.hope i helped!

And if you do that, then you end up paying a higher rate, a shorter amortization period which raises your payments, and they're typically a 5 yr balloon where the rate can reset after the 5 years. 

Born and raised in Nashville, TN.

I have never raised a rent on an existing tenant yet.  

You would at least have to have it disconnected while they are doing the house raising.

why not raise funds for the home in the south suburbs and flip for profit.

Are you trying to partner with someone or raise private capital?

While the result is the same it will be perceived as more "fair" to raise the rent based on something they already agreed to, rather than your choice to hire a PM.