I am 23 years of age and I have absolutely no experience in real estate other than the videos, forums, and research I’ve done in the past month.

I always kind of jokingly say to people that if the small stiff we got here bothers you, youd be scared to even live in a house in some other parts of the country.Not to get off track.. in some markets like north bay area of SF if your home is over a certain age you are required to put in a new sewer service before you can transfer title.. my brother in law is an underground and kills it doing those at 10k a pop.  

Property type: All condos/ no rentalsLocation: Chicago, Age: 10 Years OldNumber of Units: 1000 Units Approximate HOA Yearly $4M Other Incomes ~ $300K (Yearly)Unit value range: $250K - $450KThanks In Advance 

The problem I'm anticipating is that with my young age and short lifetime at my W-2 job, I'll have trouble getting pre-qualified for an FHA loan.

I won’t be able to see the condition of the house so I will budget for floors, paint, appliances, roof and A/C depending on the age of the house.

Also,if you are not yet retirement age you can use the cash flow whereas IN the ROTH you cant.I was/am on the verge of doing just that, and I am hoping I found the prefect solution!

In this day and age, we could be sued for any reason whether house paid off or not.

@Lamar QuinnThe age old freeloader problem. 

You should be funding the policy in less than 10 years at your age.

I always provide rent comps (non-SEC 8, same city, similar property type, size, age, same bedrooms) with mine to show I am asking for a reasonable rent.