I stay out of Chicago for many reasons that there are just too many rules, fines and tenant favoritism with the city.Best of Luck.

I misunderstood...So, from the other side (business side) one of the first rules of sales, "Always answer the phone because you never know who is on the other line."

Use the math.at $2300 using 50% rule: $1150/month cash flow is $13,800/year.  

For someone that's not as conservative, or a different view on the cycle, they might have a different opinion than me on all of this.2) Sponsor quality check: (takes about 45 minutes per deal)I believe that a great sponsor can take an average looking deal and make it great, and that in mediocre sponsor can take a fantastic looking deal and make it bad (especially if there is a severe recession).

This is a critical area the IRS closely reviews, so accurate documentation of hours, activities, and material participation is extremely important.Regarding income fluctuations, I recommend using the 110% safe harbor rule to ensure you avoid any underpayment penalties.

I not longer meet 1% rule.

It’s not a slam dunk, but it’s definitely the kind of property that could work well if the zoning and STR rules line up with your plan.

My main struggle now is guests not reading the house rules.

No point in having rules if you don't stick to them.

Hi Shameka, That's a fantastic accomplishment—congratulations on nearing the finish line of your first BRRRR!