Well besides the hard costs (construction, materials) and soft costs (permitting, architecture, fees, engineering) people often forget holding costs. 

If you're willing to be live in one half and rent out the other then you'll have a better ability to make it work out for you.We've focused on finding distressed properties and then flipping them, but we're able to make the numbers work since we do a lot of the rehab ourselves.If you have any questions feel free to message me!

There is a lot of value in being able to invest in your backyard - the ability to check on the property any time, saving costs for not hiring property managers and knowing the area better.

The financing cost behind hard money are usually more expensive than taking out a HELOC.

This could limit your ability to refinance in the future to lower your payments.Rental Viability: Renting out a very new home (built in 2019) may not be ideal due to potential wear and tear concerns and the fact that it's less likely to need significant repairs or updates that tenants often expect.Local Market Considerations: Chicago's property market is known for high property taxes and historically slower appreciation compared to other markets.Financial Necessity: If you don't have a strong financial or personal reason to move, such as proximity to work, family, or lifestyle changes, it may not justify the hassle and costs of buying a new primary home.I am a loan officer so feel free to reach out to me directly if you have any other questions or would just like to discuss!

Feel free to reach out if you have any questions, or if you just want to discuss/collaborate.

Your stories, advice, and any resources you can share would be greatly appreciated.Feel free to respond to this post or reach out to me directly.

Feel free to reach out.

Hi Jerrell, I would recommend consulting with a local NYC RE attorney to confirm NYC tenant/landlord laws and regulations 

That's $18,000 a month income and their costs are probably 1/3 that.