The property probably has some good prospects for some appreciation in the future as well so its worth holding on.

He predicted our current state 100 years ago, but he never let that deter him from making beautiful architecture.

As of today, May 19, 2024, he is advertising a single family house for sale in Rosedale (Queens), NY for $250k, while stating that it will be a short sale once a prospective buyer makes and offer that's accepted by the seller after providing proof of funds. 

I'm seeing opportunities in Colombia, Perú, Argentina, Panamá, and México.But, unless you're located IN one of these countries, it's probably not the place to learn real estate investing.That said, you should know that the amount of capital you have has ZERO bearing on whether you can get started in real estate.If you know how to property recognize and analyze a deal and you are able to get prospective sellers to tell you their problems, you're well on your way to becoming an investor.However, you could have a million dollars in your pocket, but if you can't recognize nor analyze a deal and can't talk to sellers, you're no investor.

As for the Northwest suburbs, I’m a big fan of areas like Palatine, Schaumburg, & Mount Prospect.

I would like some tips on what I can work on now(Im in college and this is kind of prospective), what I should not do when just starting out and just some beginner advice.

Regarding likelihood of success- sure, the prospect of failure is real.

And while I can't speak to the legality of it I would not be happy if a prospective tenant didn't add their baby as an occupant which is particularly important to know in older places that may have lead paint. 

I assume the source of these reports are from unscrupulous competitors or jilted prospects that don't qualify, but that's just a guess. 

Maybe that's the prospective buyer.. $250-300k is a healthy 1031X that could go a long way - especially if the sellers are willing to carry!