In fact, if you provide a copy to your family/friends who are interested, you would be showing them that you want full transparency and protections on your transactions and treat their money as if it were you own. 

Members often share investment opportunities, like off-market properties or discounted services from contractors so I'm quite sure you would find it beneficial to your journey.

You have full access to see what similar homes with similar finish outs of your final product are selling for to back into an accurate ARV.4) Lastly, as someone who has house hacked myself I would make sure you understand how a lender will analyze your second property.

If people are looking to move there full time for a new job, I'm assuming STR is out and people would need a MTR while they're trying to find their forever home or a LTR if they weren't looking to buy.

I will say having that passive income is tempting but it would come at the cost of doing a full blown condo conversion to free up the capital.Anyways, am I thinking about this right? 

This community is full of experienced professionals who are more than willing to share their knowledge.

Upcharge for spa boxes, maybe a massage or concierge services, etc...Those marketing strategies will boost your bookings and top line revenue, plus make you more memorable. 

If you have the cash, you get the full return.

Chicago also has a great investing community full of great meetups and ways to learn and connect.

They'll also go over their services and you can decide if they would be a good fit.