Increased property taxes may have an effect on your total investment returns and cash flow.Make Connections with Local Investors: Gaining knowledge of the Chicago market may be achieved by establishing connections with real estate brokers, property managers, and other experts in the field.

Seek out locations that are undergoing gentrification, development, or expansion where property prices may increase over time.Creative Financing: To fund your local deals, consider unique financing solutions including partnerships, seller financing, or private loans.

Needing 2 years of tax returns might be required if they are using traditional financing and being self-employed.  

There is an increasing percentage of the population that is location independent and wanting to build equity but at an affordable entry point.

In California you also have to worry about rent control and not violating the rent-increase caps for your jurisdiction through new utility billings on a preexisting tenancy where utilities were previously included.The cost for third party billers is minimal and they'll help you get your arms around all this if it sounds too complex.

I STR out of state and self manage, it’s so easy in the Smoky Mountains.

At this point, the property exhibits completed updates, increased revenues, and appreciation.So, the best use of investor capital is to sell the property so that they can seek their next investment project.Once the sale is complete, investors get your original capital back, plus a percentage of the profits.While slow & steady cash flow can be nice, selling the property allows investors to multiply their equity faster over time

I think a more prudent (and achievable goal, not to mention far less financially risky) would be to start free classes/seminars to teach them how to delay gratification, increase their education and earnings potential, find quality and affordable child care (perhaps creating a "swap group" within your group for free trade-off CC), learn how to properly manage finances, and all of the other tools needed before you can even begin to invest in real estate.

Often times, you can seek an appraisal for the structure value to help increase the total amount of renovation expense that can be put into a property.

If the property has recently been renovated I would definitely buy occupied because it reduces your risk and increases your cash flow right out of the gate.