Hi @Irving Rivera - I think the old saying that "You get what you pay for" holds true in real estate investing too.I think Chicago neighborhoods like Garfield Park are great IF you have the right team and MOST IMPORTANTLY THE RIGHT TEAM COSTS $$$. 

Why would he prefer a $1500/mo (150k-purchase cost) 2 BR 2 BA 1000 SF condo over a $250k 4 BR 2-3BA 2000 SF house where we rent out half and live for like $500/mo?

I want to do the most cost-effective plan for the house.

Caveat being that rehab costs would be extremely high relative to ARV.

Without knowing the renovation and soft costs, having the original purchase and eventual sale price is worthless data.

I was taking a look on different posts and you have inspired me to do some research on my areas as well, to remodelate the business!

The business address is a we work in La.  

if your serious just send them progress not perfection is the key. get talking to people and see where you mess up then pivot and fix that screw up. if you are writing letters you are far ahead of many. i would also say to add about terms cash buy/no fees or closing cost/ as is/ and so on\.

Typically, when I work with RE investors, we'd make a preliminary legal plan to ensure that both the legal and business goals align before creating any sort of entity set-up.

Realty Doctors - property purchaseRealty Medics - property management I will not be doing future business with either.