One more question...In the video I shared above, Anson Young says he likes to search for real estate deals in cities of 100K-250K people, since that level population supports demand and there's less competition than in the major cities.

including the sale of the property can increase your tax rate.The capital gain(including depreciation recapture) gets added onto your income.Therefore, your capital gains tax rate may potentially be partially at 15% and partially at 20% depending on your income levels and the gain from sale.Furthermore, do not forget state tax rates + Net Investment Income Tax.Best of luck!

Most people setup an LLC for this for the added level of liability protection. 

Show her some graphs of the price of housing cost (to buy a new house) increase over years from 2011 to 2021,  and the cost of insurance for that house you bought from 2011 to 2021 and lastly the rent level increased at the max level allowed by rent control from 2011 to 2021 ( you will have to work backwards to get the rent numbers)  and let her see how much the housing cost increased compared to the rent increase allowed now by rent control. 

@Liam Martin Ruane  I would ask them what's in it for you, and what is their experience level?

He has most of the meetings up as a podcast search Nomad and Jame Orr  super high level detailed real world real estate investing education.  

@Rita Naga...there's too many factors you're not mentioning and I agree with both @Marty Johnston and @Chris CambridgeJust back of the napkin off the numbers though running backwards - if your NOI is ~$86,000 and rents are $595 now, then just guestimating at a 45% expense level, this is ~20-22 units??

@Sidthi Sanjanwala I don't think you could have possibly picked 3 massively different markets...these markets are not even remotely related on any level.

The capitalization rate of an investment can be calculated by dividing the property's net operating income (NOI) by the current market value or acquisition cost of a property - expressed in the following formula: Cap Rate = Net Operating Income / Current Market Value " Chicago Cap Rate Analysis Please keep in mind this is a high level analysis.It should give you a ballpark idea of cap rates in the various Chicago neighborhoods.But some assumptions were made for this analysis.For example, to determine the net income for a property, I assumed it would be 50% of the Gross Rental Income.

I would pull you thought-process up a level and look to master deal acquisition.