Put together a spreadsheet and compare the performance of the subject property if you keep renting it as is for the next 10 or 20 years versus if you rehab and refinance.

We've gotten that advice from an old timer in the trades, but Chicago is notoriously know for lagging with issuing permits and performing inspections.  

I can only speak to the Texas market, where malls that focus on creating consumer experiences (coffee shops, kids play area, entertainment-based tenants) are still performing well even in this age of online shopping.  

Permits and LLCs for Contractors:Your associates/relatives don’t necessarily need to create an LLC to perform renovations.

It under performed, but it was my first flip.

Not sure why that happen, however the best way to screen a potential tenant is to see how they have performed in the past. 

Don't discount that.Real estate remains a valuable investment despite current challenges due to its tangible nature, long-term appreciation, and potential for consistent rental income.

Ensure vendors feel fairly compensated for their expertise.3.Feedback and Recognition: Provide constructive feedback on their work and recognize exceptional performance.

If you consistently analyze properties, recognizing a good deal will be much easier when it shows up.

I’m thinking with a 2.25% rate, that’s a good mortgage to hang on to if it performs well as a rental.