Hi Jon,Thanks for that.By going with a Cap rate of 10% after the 50% rule and a 25 year amortization at 6.5% I'm coming up with $56,712 a year in payments so I would actually be out of pocket $6,712, and assuming appreciation is equal to inflation there is no gain there, so why would anyone bother?

Failure to comply with just one of the many requirements of the Chicago Residential Landlord and Tenant Ordinance (“RLTO”) can result in a judgment against a landlord equal to two times the security deposit plus interest, court costs, and reasonable attorney’s fees.Second, investing where you live doesn't always make sense.If the market is depressed, and/or the rates of return are low, then why would you "invest" there?

That definitely helps, but nothing would help renting to such a waste of oxygen as had occupied the house in the video, so screening is vital.

In the business district (downtown), we find our clientele to be young professionals and studio, 1 & 2 bedroom units all rent equally well, but larger (3-bedroom) can be slow to rent.Around the universities, cost/room is the main driving factor for students, so 3 & 4 bedroom units always rent early and 1-bedroom units seem to rent last.

@Mark Ferguson I bet those annual premium payments won't be so painful anymore now that you've experienced firsthand how vital it is to have coverage, and how much financial loss you've avoided!

It was low because you have to fund the impound such that the amount added each month will equal the amount of the property taxes and insurance when they are due, plus 2/12 of the amount of each.

In addition to the 40k principal, you could max out your Roth IRA for 10 years and if ROI equals it's historical returns then you'd have accumulated over 200k tax free.

If all else is equal, I would still ask for an explanation.

The work you do with legal advisor(s) is just as vital and works symbiotically with the insurance.

Those are vital to success.