Thanks @Jenkins Ramon .Some of the other important qualifications were that it has to be a foreclosure and the units are restricted to tenants with incomes under specified thresholds.

If you've never invested in Chicago before, you should know about some of the special rules for being a landlord there, like the Chicago RLTO (Residential Landlord-Tenant Ordinance).

Be sure to check out the Ultimate Beginners Guide as well as my 10 Rules of Successful Real Estate Investing.

Hi all,First time posting here - as a landlord who has been renting my condo in the City of Chicago for the last six years to the same tenant, things were going ok until this year, but now they are behind and won't even talk to me to come up with a favorable agreement - I have been very patient with them, but finding out now that being a 'good guy' doesn't pay off....I am looking into eviction now, and in my case I want to work with an attorney (even though the process looks ok to be done w/o one, but I want to make sure I am doing everything right, since I am finding out that the Chicago Ordinance is a lot different than any other city/county rules)I narrowed my list down to these two attorneys, has anyone worked with any one of them?

The #1 Rule to real estate is Location, Location, Location.

Also shows a cash flow of ~200-300 a month.If anyone has a more applicable formula or forecasting equation than the 50% rule I would love to see it.

I am using a SDIRA and all the legal advice I got sounds like you are on safe standing, assuming the 401K falls under the same rules.

what u are talking about restriction from that country to own property.I mentioned as American you can own it anywhere.

Sorry for the late question, but what is the 1% rule?

They usually send an Inspection Agent from Section 8 to look at your property to see if it passes their code of rules of regulations.