This is going to be very situational like @Paul De Luca said check with any HOAs then check with the city, county, and state to understand how the laws would impact you.If you are in the Chicago Metro I imagine you have this happening all over the place.Maybe try talking to an attendant at one nearby and see what they run into.How many spaces are you planning to rent?

I’ll cross-check sites like Redfin, Rentometer, or even local property appraiser data to see what’s realistic for rent and resale value.2.

On every purchase except this one they look at the OO check box and if not OO ask if there is current tenants and escrow the security deposit.  

Have you checked out there offerings recently Jay? 

It stretched me beyond just writing a check — I had to think about how financing, cash flow, and title work across multiple properties interact.Challenges & Lessons Learned (as the funding partner):Title coordination: Watching the operators juggle multiple closings at once gave me an appreciation for how complex portfolios can be compared to single deals.Cash flow management: I saw firsthand how critical it is to plan rehab draws carefully when several properties are in motion at the same time.Exit flexibility: From the lender’s seat, I realized how valuable it is when operators have multiple exit strategies (hold, refinance, sell individually).

BRRR could be a great option with 100% bonus depreciation, but check with your CPA to see if it fits your overall financial picture.No need to rush into the next one, planning and timing matter more than speed early on.

My only profit on this one is an assignment fee from an end buyer who I will vet and get proof of funds, background check and all the usual to place a solid buyer in the property. 

Doing proper research — looking at the chain of title and checking the NY court system — gives you an edge most first-time buyers don’t have.I actually maintain a Brooklyn Pre-Foreclosure dataset (updated Oct 2025) that pulls verified filings straight from the New York State Unified Court System, showing dates of default, mortgage balances, and more.

The overruns weren't caused by the Land Bank or thir requirements, they were due to inevitable surprises when you do major renovations.Rcommend NOT focusing on Land Bank properties, instead look at everything on the market and buy the best BRRR property you can find.One last thing, many of the Land Bank properties are in Class D Neighborhoods:( VERY difficult to make these work as rentals or flip.If you'd like to chat more, DM us and check out the Interactive Map of Metro Detroit with color-coded Classes on our website - to make better decisions:)

I wonder if they’d be willing to just send me a check for $13k/mo?