Generally what is best in real estate is to be able to buy low and sell high, put out x dollars and take in 2x dollars, and there are one million ways to accomplish that.

Taxes are low, communities/schools are good, multiple types of transportation to the City, and many people who work in Chicago live here.Best neighborhoods for your price range: Highland, Munster, Griffith, Schererville, Crown Point (a bit further from transportation), Dyer, St.

Most aren't interested in low end, non-owner occupied condos, owned by an LLC.With a pref of 8% most of the cash flow will probably go to your partner and there won't be that much left for you.

@Wayne Brooks, @Kee Wilder, I feel like Batman--someone mentions my name on BP, and it's like shining the bat light into the heavens, I know to come help! 

While that's a low probability chance of happening, it's still possible. 

Closing costs seem low, but other than that the numbers look good.

Did you try to keep it low (under 100k-150k)?

paying off a house is simply trading liquidity for non-liquidity. you'll save yourself the compounding interest but that's at a very low rate.

What seems to be better deal a high cash flow of $670 in C class area with some minor repairs, possible major repairs in 5 years. like roof, maybe foundation issues. Duplex was built in 1900. Ne t option is lower cash...

If it's already thin and the basement is going to be an issue, I'd drop it or have their agent to light a fire under their asses to adjust the price before they lose it and have a foreclosure on their record.