Every investor’s goals, resources, and strategy are different, and there is no one-size-fits all solution to market finding.You’ll walk out understanding:How to balance your goals for cash flow and appreciationWhy home prices don’t paint the whole picture for affordabilityHow metrics like the rent-to-income and rent-to-price ratios are similar (and how they aren’t!)

The inspector is pretty easy, whenever we have a new tenant inspection, about all he checks is smoke alarms, and water faucet back flows.  

know the laws, know the area you are looking. check out airdna to see if the numbers make sense in the area.if all check out you will need a team to help run, cleaning crew, maintenance folks to start. best of luck

First get all the utilities into you tenants names if at all possible.I'd put in low flow shower heads first.They make a restrictor that goes inline with any shower head and is pretty difficult to tell its there.Put a brick in the water tank.

The advantage is you get greater returns in terms of cash flow. 

This way you have a working and clean bathroom without the thousands in gutting a bathroom.

If you are interested in how to decrease your Federal Taxes and increase your cash-flow, I can help with no-cost consulting or studies specific to your property(ies) whether they are small or large and anywhere in the US or US Territories. 

Selling subject to is not a good deal for the seller unless that have exhausted every other option and/or are in a mess that they cannot clean up.

@Caroline KnightI don't know the Chicago market but I'm highly supportive of house hacking.One thing to remember that positive cash flow isn't actually the goal of a house hack. 

With that said, what is the best strategy for building wealth and creating cash flow with real estate in today's market?