Buying existing LTR or STR with proven income that may just need an update or a value add (add more units, add more bathrooms, beds rooms, etc.) and your next one you can try a riskier property that has less proven income.

At some point 8-10 years did a portfolio loan with good tax returns and ended up using a lot of cash and that loan to buy 2 strs in Myrtle- ocean lakes. we currently have 20 units and Two are str's.theres really no short cut, we built a ton of equity by buying at the right time and fixing up ourselves (I'm a contractor).wr bought the two strs in 2020 and 2022.

If you were buying a multifamily, you could count income from the other unit(s).

Eric,Ask for a copy of the HOA bylaws and make sure your unit is OK to rent out. 

Investment Info:Small multi-family (2-4 units) buy & hold investment.

I used it to assist with my downpayment and costs to stabilize 3 parcels, all acquired at the same time, totaling 9 units.

We've done a few deals together in this way and currently hold 10 properties together - with an additional 3-unit closing next week.The basic structure made sense for me to get started - my partner provided the cash injection and I provided the time and effort to find the properties, fix the first couple and/or manage the contractors.

HB262 states:"An Act relating to increases in rent for dwelling units; and providing for an effective date."

I believe that the current 2023 standard city of chicago lease from CAR allows the tenants to smoke inside the unit.

I’m interested in purchasing a multi-family property near the University of Cincinnati that my son can live in while renting other unit(s).