No attorney-client, fiduciary, or professional relationship is established through this communication.

The key to any of these is to establish, include as an attachment with the Rental Agreement, and Post within the Unit, a set of "House Rules", to include items such as Quiet Hours, Overnight Guests, and a number of other important items.

Make sure the expectations are established upfront. 5.

Depending on where it is located you may be able to get the parcel divided but will need to be dependent on zoning, utilities, restrictions, etc.

What this deal reminded me is that with mobile home on land deals, you are often buying the land, the utilities, and the zoning, while the structure may or may not add value depending on local rules.

Hey everyone,I’m comparing two 3-unit properties in Chicago and could use some insight from local investors.Option 1 – South Side (near Woodlawn area):Priced around $830KModern finishes, newer construction styleCurrent rents around $2,195, $2,000, and $2,000The area has a lot of new developments and new 3-flats going upMy concern: with so many new buildings being added, there’s likely going to be more rental competition, and property taxes may jump once reassessments catch up to all the new construction.Option 2 – Pilsen area:Priced around $735KAlso modern updates but smaller units (two 2-beds and one 3-bed)Taxes are currently low, but likely because the property hasn’t been reassessed since the recent renovationsThe area feels more established, with strong tenant demand and characterSo I’m weighing the growth potential and higher risk in the newer South Side market versus the more stable rents and potentially upcoming tax adjustments in Pilsen.Would you lean toward the newer-construction area with possible tax jumps but longer-term appreciation upside, or the lower-tax, established neighborhood that might get hit with reassessment later?

However, I think you'll find the high turnover on investment properties brings in a lot of new, out-of-area investors who will be looking to establish relationships with companies like yours, particularly if they can make one phone call and have everything take care of.If I can be a resource or help in any way, don't hesitate to reach out.

Use a dedicated credit card for the propertyPut expenses related to the house on that card (taxes, insurance, repairs, maintenance, supplies, utilities if possible).

I am unsure if they have individual meters for utilities.

Even at 2.5% monthly holding costs (taxes, insurance, utilities, maintenance), the math gets brutal fast.A deal that penciled to $85k profit with 90 DOM expectations is now sitting at $60-65k if you hit 180 DOM.