The current rents are as follows, unit A $575 and unit B $700 (total=$1275).  

.$100 = maintenanceTotal exp = $444/monthNOI = $551With loan, 25% down, fixed 5% at 30 year$322 ; Mortgage payments$229 = net cashflowIt looks like its in a "B" class area. 

Originally posted by @Tony B.

Appreciation will be based on market demand which as we've seen in the last 10 years has gone up and down, however cash flow is a bit more stable and if you're leveraging more critical.We focus mostly on single family homes in class B neighborhoods so I would say you're on the right track.

My main objective is to purchase a condo in a A or B neighborhood in Chicago that will cash flow.

The way I am picturing it is such: Person A has house to sell, person B (me) sets up a lease option for X amount of time, then finds person C to assign the lease option to?

You require your t/b to place a 5k or 3% (whichever is greater) option deposit on the property (aka, your profit in the deal), and add that into the price of the property.  

I currently have a Discover as well as a secured Visa that are paid in full every month.

This will generate two separate transactions:A to B (Your Seller selling the property to you)B to C (Your Buyer buying the property from you)This way your buyer will not know how much you got the property under contract for, and the seller or buyer will not know how much you are making on the transaction. 

I have heard the chatter all the way up to Southern Ocean County about the job losses caused by the 2 casinos closing in a couple days in Atlantic City NJ and maybe another one in a couple months as my friends whom are B & H ers (and bought to high) have tenants that rely on the casino industry and they were just notified by there tenants they may be forced to leave.