To me, this is very affordable and when you consider that it will cash flow between $600-$1000 after I move out, it becomes a self sufficient investment with a lot of equity. my plan would be the hold the property indefinitely and cash-out refinance it every 10-15 years (maybe even sooner for the first one since I am buying it for such a discount). 

I looked at a chart recently that showed the lake has been below 2005 levels for 15 years straight. 

I understand that discount rate is the anticipated Return or the cost of debt.

I got it for a pretty decent discount before the investor who originally had it under contract had their hard money loan dry up due to COVID. 

Make sure you are very straight forward with sellers with what you are doing.

I want to upgrade my account to a PRO account, however, I'm hoping that there is a promo code for this as I see the option at checkout! Any help with this would be greatly appreciated!

The straight equity split appears to fit my investor's game plan, but I don't know what a fair equity split should be in that scenario.  

You really can’t discount the diverse neighborhoods in and around the city of Chicago

@Andrea Wilson Unless they recently stopped TD Bank does - I get that question a lot at my bank so I researched and got confirmation straight from an employee there.

Heres one that runs straight thru my neighborhood: East North Broadway Streetthere is no Broadway, no South Broadway, no other Broadways anywhere here that i am aware of They could have just called it Broadway.