Cap rate in the areas we wanted to buy are so bad (1 or 2%), even for the add value plays (which I think in Chicago is a tough play right now with everything hyper-inflated from the dollar to the prices of property).

You may want to play passively as a limited partner if you are accredited and earn/learn or help out a syndicator to gain experience to see how they are doing it.  

Here's the link to this week's and next week's events: https://www.biggerpockets.com/forums/521/topics/410250-role-play-how-to-talk-to-sellershttps://www.biggerpockets.com/forums/521/topics/411802-analyze-a-flip-property-real-deal-tourAlso, here's a great FB page where you can get updates and connect with other investors in this area: https://www.facebook.com/groups/WashingtonInvestorsClub/

David Oldenburg those are the homeruns we all play the game for... care to share some of the numbers and maybe show what you did with that meager $200 to lock in the deal?

Sadly,  the government is an irrational force in the market so we can only guess how that will play out.

Michael Klinger Indianapolis is a great play, and with your potential tax implications you need to have a conversation with Eric Gaudio

Some families are looking for a yard for their kids to play, but a smaller yard has not yet deterred potential tenants, especially if the quality inside the home is great. 

If someone is stomping or playing loud music, you'll still hear it.

https://www.biggerpockets.com/forums/521/topics/410250-role-play-how-to-talk-to-sellers

You can actually play that dynamic back and forth although if you don't feed both of them they will move on.