Here’s the real deal 👇🏠 Self-Managing works when:• You live nearby• You have time for calls & repairs• You know landlord laws• You like being hands-on 💪🔑 Hire a Property Manager when:• You’ve got multiple rentals• You live out of town• You’re tired of 2 AM maintenance calls 😅• You want stress-free, steady incomeSometimes peace of mind is worth the management 🙌

Your agent’s “10–20k norm” can be fine, but make it numbers-driven: set your max allowable offer off a conservative ARV, stress-test rents and rehab with a contingency, and decide your “walk” number before you write.

Scale only works if each asset meets the same bar.Model approachI built my own underwriting model, but many solid templates exist online now.Key focus areas• Purchase basis (true landed cost) vs comp set• Rehab scope and sensitivity• Rent comps and lease-up timing• OpEx realism (maintenance, turns, taxes, insurance, management)• Debt structure and stress tests• DSCR and breakeven occupancy• IRR, equity multiple, unlevered and levered yield• Market concentration vs diversification• Hold period assumptions• Refinancing and interest-rate exposure• Lease absorption• Downside stress tests (rent drops, tax increases, insurance shocks, rates, vacancy)How I use it• Every deal goes through base, downside, and worst-case underwriting.• Comps and cost assumptions get cross-checked across multiple sources.• I separate the “investor story” from “spreadsheet reality.”

The demand is usually steady year-round in Chicago for that group.That said, here’s how I’d weigh it:If you go MTR:You’ll need to furnish it properly — not fancy, but turnkey: queen bed in each room, blackout curtains, comfy couch, smart TV, solid Wi-Fi, a stocked kitchen (pots/pans, utensils, coffee maker, toaster), and a simple desk setup.Expect about $4K–$6K upfront to get it guest-ready if you’re starting from scratch.Cleaning and turnover management can be automated (Turno app or a local cleaner), but there’s still some coordination involved.Since you’re near a hospital, list on both Furnished Finder and Airbnb (30+ night stays) — that combo usually keeps you booked.If you go LTR instead:You’ll save yourself the time and mental load of setting up a new system while adjusting to newborn life.Even if the rent’s lower, you’ll get steady income and less stress, which might be worth it right now.Winter leasing in Chicago:Yeah, it’s slower — especially December through February — but MTRs tied to hospitals stay active because medical contracts don’t follow the same seasonality.If this were me?

The right advisors can help you design a structure tailored to your goals—saving you time, stress, and money as your portfolio grows.Investing wisely isn’t just about finding the right properties, it’s also about protecting what you build along the way.

Putting the right team in place from the beginning can save you time, money, and stress down the road.Wishing you success as you start your investmenting journey!

It was stressful at the time, but looking back, it was the best thing that could’ve happened.

It also helped me keep personal and investment money separate, which reduces stress.

Verify rents with a local PM, stress‑test at higher rates and conservative vacancy, and only buy if it cash flows without short‑term rental income.

The extra diligence upfront saves a lot of stress later.Get everything in writing — use a solid lease template (there are great state-specific ones online) and document all move-in/move-out conditions with photos.Separate your finances early — open a dedicated rental account so income and expenses don’t mix with personal funds.