I am highly interested in investing into a multi-family brick oversized building in Chicago (5000 sqft 3 units), but am intimidated by the scope of the work.

The scope of work includes electrical and plumbing upgrades, gutter replacement, water infiltration mitigation, interior and exterior painting, odor removal (due to animals), wall repairs, full renovation of bathrooms and kitchens, and structural reinforcement.We estimate the total rehab cost to be approximately $200,000.

A better market meant lower cap rates.  

Some investors thrive on that, but if you want to keep your stress lower and your focus on long-term stability, Buy & Hold might fit better at first.You have a good runway — two years is plenty of time to learn the ropes.

"The owner said ok to see outside", and out of courtesy, you just wanted to let them know you'll be looking around.Meet them like that and you'll have a better idea of what they are really like. 

BUT, this is going to take a lot of time and effort on your part.So then your decision is which is better for your situation.

Ask upfront for a clear timeline and scope of work so you can plan accordingly.And if you’re planning to be on-site at all, I highly recommend investing in a high-quality respirator.

Cicero has some water issues so definitely get a sewer scope if you buy in that area if you decide to buy. 

Politics aside — what’s done is done. But there’s some good news for investors buried in the recently passed federal bill (nicknamed the One Big Beautiful Bill) that could seriously benefit your investing strategy. Wh...

with a 300K budget, i think you are better off with at least 2-unit property.