Some people purchase a property for cost segregation/accelerated depreciation purposes to save on their taxes.

Even in the smaller markets, a life cycle of a deal can stretch out 6 months before the exit and that can cost 30k once all is said and done.I like to tell people 50k is a nice starting point capital wise. 

I can barely get firms to look at columbus with 10x years of experience thats mostly for ground up. the average house cost is still less than 100k which means you have a lot of houses to tear down still to create a housing shortage. the economics don't make it favorable for any type of investing but turn key or maybe ground up in the urban core which works in any city. but compare any of these cities, I'll take Indianapolis, Chicago, Minneapolis, and columbus and Milwaukee and pass on the rest. 

Its unfortunate that your closing costs increased by $3,546 in order to fund your tax and insurance escrow accounts.

Can you describe your property or add a link to your listing?

He can also refi down the road to lower his interest rate... but that comes at a fairly significant cost (say $3,000 - $5,000) - which will totally negate any mortgage pay down from owning the property in the first couple of years.  

That is the cost of doing business and the risk you have to calculate. 

Here is the city's page that outlines the RTLO, and has a link to the complete document: https://www.chicago.gov/city/en/depts/doh/provdrs/landlords/svcs/residential-landlord-and-tenant-ordinance.html. 

However, I feel like there's a lot of potential to run into a lot of walls/pitfalls that can cost a ton of time/money if I do this route.At the end of the day, I want to put a lot of emphasis on using the newest technologies to streamline the business as much as possible. 

Both of our medical needs (and costs) have resulted in us needing to sell our house.