And when something is confusing or overwhelming, it is our natural tendency to turn away from it. 6) BUSINESS SETUP - separate bank account, decide on LLC/personal name/trust, and also acquire some good software for deal analysis in your area7) ANALYZE DEALS - as opportunities come in, analyze them.

If there are other options let me know.1st: Hard money- for the BRRRR method. 2nd.

Seller financing may be the only method that you could get away with no hard credit check.

@Neil Quinn I don't see any price rollbacks happening on materials anytime soon - natural disasters just have a way of increasing them due to demand.

I personally aspire to develop rhythms of a hybrid nature that allow for both and grow to accommodate pattern recognition wherein the approach is relevant to the target.

We followed the Dave Rasmey method pretty rigorously up to step 4 (have an emergency fund and pay off all consumer debt.)

The counter-attack from the IRS is likely to point out that such expenses are inherently of personal rather than business nature because everybody needs a haircut anyway.

Money management has never been a big problem for me and its almost natural for me to live somewhat frugally but its a big number to have in front of you at such a young age and I would appreciate the advice from someone who has a little more life experience than myself.

I wanted to ask if anyone had any experience in the following methods of finding deals:- Foreclosure- Probate- Short sales / pre-foreclosureAny pro's & con's of searching this way?

Lastly, after you receive advice from other Chicago area SLH operators & the local municipal agencies that will not only save you time but direct you towards ways to save you money, you are going to likely want to register your business as an LLC with the state and obtain the proper small business renters Insurance policy under your LLC’s name (if its just a 2-3br operation the policy monthly premium  cost will be very low and will shield you as an individual from the very probable situation of being personally liable for the behaviors, damages, & actions of a traditionally high-risk short-term tenant group bc no landlord’s homeowners insurance policy will cover any damages or personal liabilities that will occur when they discover the nature of the operation.