I was your typical American until I discovered BiggerPockets.

Hello Bigger Pockets,

I am trying to get started on my first multi unit to house hack or even just do a simple FHA loan in NW chicago (portage park/ Avondale, maybe hardwood heights).

But what I’ve noticed is that t...

This is typical of this tenant.   

Hey guys,I'm close to closing on a deal (tried to close Friday but this issue moved us to Wednesday) and have a question.The house in question is a single family rental with a tenant in place. Good payment history, sl...

Typically you would see people do this if they were already doing rewiring/replumbing. 

Most investors typically try to stay out of C or less neighborhoods (Cs are possible...just depends on what a C means for a particular market).

Awesome responses, typically don't lean heavily towards any one side but it sounds like theoretically SLT sounded like a great idea but that'll be put to rest with regulation. 

Typically, irs auctions transfer only the "debtor's interest" (equity, if any) in the property.  

In a typical home sale a sewer line has either failed or not failed.

And once you actually get the property, it will also depends on how well you list it.Average is a good overall indicator for the whole market but i would not use that when doing my numbers.I have single family homes in the $1400/mo and i don't see them vacant at all and when old tenants moves out, we already have new tenants ready.On the other hand, properties over 2k/mo takes 1-2 months to rent out.To be on the safe side, i would do what banks typically do, and that is 20% vacancy rate..