This may be to deliberately prevent discovery of other electrical issues or prevent fire/injury.You will need some form of hard money or construction financing to purchase the property as is, and you will need to get the property occupant-ready to pass an appraisal before permanent financing is on the table.

Conservatively speaking, we probably own $70k in equity in the duplex and $50k in our own home.In the limited research I've done, a HELOC seems like an ideal form of financing a BRRRR property.

I think for someone local to the area it would be significantly easier to find good deals that it was for me.

I spent several months on reading up the stuff and filling out all the forms and constantly pestering my tenant to follow through with her application.  

Be friendly :), it's always good to form relationships with the city. 

Starting out as a wholesaler appeared to be the best place to start in Real Estate for me.

Risk comes in many forms and is hard to quantify. 

BP doesn't allow any form of marketing in the open forums, which includes your business or services.

Hey @Mordechai Chaimovitz - It sounds like you are talking about Chicago's NW side because there are definitely tons of areas in Chicago where a 2 flat can cashflow well.I know for me buying on the nw side was critical to my personal well-being and life happiness. 

However, it's feasible for me to hold onto this property anyway and fix these issues regardless.And yes, the mini-split has a unit for each room.