I also add a 5-15% contingency depending on House age and condition when bought.- create a project plan and STICK TO IT.

R&M also depends on the age, current condition of the property and the quality of tenants.  

Illinois has had 40K working age people leave the state.

IM me and I’ll provide you some lender references but may need some more info

Talk to lenders in your area they will give you a lot of info.

My wife and I are looking for out third investment property, but we are worried about how to get financed for the third time, we rent both of the properties and hope to find a triplex or duplex, and we rent where we currently live now, does anyone have any stories to add or any information on helping me, we have not put any of the properties in LLC form yet, also looking for info on this as well.

Let me know their info and why you like them.

There may be a 25 - 40 year difference in age of the homes.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp The second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

I have heard some conflicting info on using an FHA loan for a multi-unit investment property.