As to your son's business model, from what I gather, he purchases distressed properties (probably physically distressed, rather than financially), improves the properties, rents them, then sells them to investors and holds the note?

I'm a contractor, so I have a general sense of the costs for a rehab, but will be extremely vigilant when moving through the improvements.

Having a property in a trust has no effect on the impact on determinations or planned outcome of an area.Economic stimulus is generally offered or provided, funds to lower costs of improving properties in line with planned development.

I have outlined a couple belowThe more I get into this the more numbers I have to dig up and project going forward.Background Information· Purchased 2003: 250,000 (no down payment)· Refi 2006 timeframe (money out for improvements)· Refi 2009 (to avoid drastic increase in payment and rolled in prepayment penalties) I signed the papers so I have to live with itUnless it is absolutely necessary I would rather not discuss the above mistakes in great detail.

We have relied upon them to ensure we have all the necessary paperwork to improve our offers.

I wanna just practice calling people just to get the hang of it.

Following this post, it seems like there are several advantages to aggressively paying down one's principal residence if they're in the position to do so for the ability to have rapid financing options to make cash offers as a proverbial ace up the sleeve if other financing situations will not get the job done.Has anyone had practical experience in how this plays out?

Turnkey property, so assuming 5k in improvements, 4k in closing costs.

I do not know about Chicago's landlord and tenant laws but something isn't right if 7 months later the tenant is still there and hasn't paid anything.I would do an autopsy on my lease, how you started the eviction process and if it was completed correctly, how you handled the tenants first late payment, did the PM company screen the tenant per your instructions or could your tenant screening process be improved??

Another example, which I've put into practice, is that you can put your kids through college if you plan early enough and invest in real estate.