A word to the wise before everyone starts cashing out retirement accounts: there is a requirement that to take COVID related retirement distributions that you are a qualified individual. 

Let me explain, I reached out to this individual 3 months ago because I am brand new to the industry and I highly respected his Podcasts and his achievements in Real Estate Investing.

Are you planning to rent out each room individually?

I lived in CLE my whole life and flipped/rented many houses there.There’s always a market regardless what city - at the end of the day the numbers have to make sense on the individual deal and you need to have great resources team around you.Feel free to connect

Key criteria for a successful SFH househack:Suitable zoning criteria, i.e. room rental laws (county by county)Within 1 mile of hospital, major company HQ, public university, and private university (to attract 20-somethings)At least half as many bathrooms as bedrooms (i.e. a 4 bed / 2.5 bath could work, but 4 / 1.5 could get sticky)Plenty of driveway space / street parking (1 per roommate)Plenty of kitchen space (since the kitchen is the most occupied room other than individual rooms)Basement or side entrance entry point (i.e. if you wanted to turn the basement into your living space, you could enter from a side entrance)Un-involved neighborhood community (cul-de-sacs can be the worst spots)Turn-key quality (i.e. you won't need to fix much of anything when you move in)This list is by no means exhaustive, but things to think about when you work with an agent on a SFH househack.

Probably a stupid question....but how does the financing work if you use Property A as collateral to buy property B? Can you buy property B through a new LLC if you have a personal guarantee on the loan? Lender said t...

I recommend setting up keyword alerts for each area as they are discussed in the forums daily with advertisements posted in the BiggerPockets marketplace hourly.One thing to note when looking at the individual markets, you can make or lose money in any market.

I like the expertise, and I think I could use the help. but I'm still a small player, just having couple long term rentals, feel like that kind of service is overkill for me.

The bad news is that your idea has a few major flaws besides the fact that you absolutely must disclosure your intent to any landlord according to the 2020 IL TLRO Tenant Landlord Residential Lease Ordinance - the most obvious of which is that you are leaving yourself as an individual open to enormous personal liability.

This will be the first time moving beyond an individual condo investment.