I also plan to run paid ads as well but would like to start with the website.

I don't know what area exactly that you're in but likely 5.25% to 6.25% for something brand new near downtown. 

Arbitrage for mid term rentals seems like a terrible business.

I do have the cash currently on hand for a down payment, but have future expenses I would like to keep if for.  

I own a construction company and would manage them and manage maintenance myself, and likely even rent a unit to myself to keep it simple (I’ve been a resident manager before too).

They like the idea of owning this property as a rental and then eventually having it for a family member to retire in since it is one story and in eye shot of their current home. 

Turning a single-family home into a room-by-room rental strategy really paid off, especially in a neighborhood like Portage Park where whole apartments typically rent for less.The demand for month-to-month flexibility is growing, especially in cities like Chicago, where people might need shorter-term housing due to job relocations, school, or other temporary situations.

I’m also passionate about financial independence and building long-term wealth through real estate.Looking forward to connecting with like-minded people, learning from your experiences, and contributing to the community.

They say short-term rentals like Airbnb and VRBO are NOT allowed in the city of Morrison.

Would like to get some feedback about your experiences with them as I've heard nothing but good things.