I figured it was a duplex (or you had a roommate).

It’s pretty easy to figure out when I’m basically paying for a full time employee.

Homes currently up for sale in the area are about $250,000 for a 3beds/2bath and roughly 1300 SQFT.

You can view their review counts to give you a rough idea on the bookings and note what their weekend/weekday pricing is to give you another form of comp.

I was trying to avoid the eviction process just because I know it can be rather lengthy in IL, I figured with the month-to-month I can just cancel it hopefully without any issues. 

The parents owe roughly $40k on the mortgage. 5.

I did some rough calculations and figured I should be ready to purchase in the first half of 2025.

I have made up my mind that I want to be in the real estate game. With no experience or funds to get going on this solo (currently a bartender), my thought was to join someone who is already doing it and learn along t...

@Chase AlexanderRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I am just getting started out and have a rough idea of how to work through these numbers and so I wanted to throw this out there to see how far off I was.I haven't gotten any numbers on financing this so I assumed a lot.