You need to include how much it would cost you to live somewhere else in your figures.

Similarly, earnest money wasn’t included as part of the contract.The potential buyer’s suggestion to switch to his contract, which includes a fee to me, seems to be because he plans to sell the property to one of his investors.

We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.

Quote from @Efrain Flores: Quote from @Tim Delaney: Based on rent of $1500-1600 and mortgage payment of $1700-1800 which doesn’t even include maintenance, management or capex it doesn’t seem to make any sense to keep it as a rental.

It's just much easier for everyone, including the tenant. 

Also where there are changes in regulations that may require lenders to change servicing agreements which affect who services your loan.I know that's a pain but as things change -- unfortunately, investors will be impacted by changes in the lending industry - and that includes LOAN SERVICING CHANGES.It’s a total cluster between the banks, their loan servicers and their loan servicer’s sub-servicers.

Gross profit is interesting because it appears to just be the difference in his acquisition and sales price and fails to take into account the other obvious cost of running that business which includes, again according to him, the cost of over 26,000 letter print, mail, post, and the cost of the lists needed to create a mailer of that size. 

Luckily, I did not include this unit in my underwriting when purchasing, so the survival of this property is not contingent on this situation.Continuing to optimize for management of the building when I move out, like moving everyone to online rent payments or adding remote accessible security cameras.Exploring opportunities to expand my portfolio—I've begun my hunt for my next 3 to 4-unit building to house hack, ideally in Lake View, North Center, or Ravenswood.This year taught me that real estate investing isn’t easy, but it’s undoubtedly worth it.

We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.

That hard work includes making the investments that the current owner hasn't made (nicer kitchens, new flooring, fresh coat of paint, etc.), removing tenants and marketing to new tenants.