Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Before offering: pull sold comps within tight radius and year‑built, call county on open permits and CO, check HOA or subdivision limits, and walk with inspector plus GC during your 10‑day window to lock scope and renegotiate if needed.

I’ve been working on a flip calculator that breaks down holding costs (loan interest, property tax, insurance, utilities, HOA) and calculates profit/ROI.

Are there any HOA leasing restrictions?

Also, OKC's taxes are lower and hardly have HOAs.

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?

But some of the other concerns (HOA fees, etc) can still apply. 

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Most communities there have a HOA, and you have to be careful to work within their regulations.