Real estate is a business where it pays to tamper down your excitement and exercise your discipline.  

https://www.redfin.com/CA/Los-Angeles/608-E-23rd-S...Here's the calculations: https://docs.google.com/spreadsheets/d/13ieez4soHg...I just kind of did this as an exercise to test my analytical skills and see if other more savvy investors think that I'm calculating things correctly. 

After all, would you rather rent a 20-year-old condo, or a newly built apartment with multiple pools, a theater, a running track, an exercise room, and free WiFi?

You will learn a lot about the area from the property managers during this exercise.

Just go with me here for a mental exercise please.     

For the sake of this exercise, let's keep it simple. 

For those hesitant, try Tim Ferris's "Fear Setting" exercise: https://tim.blog/2017/05/15/fe...

I still need a vacation every 3 to 6 months and exercise multiple times a week to clear the mind.Even if you love what you do if you burn candles at both ends you will flame out.

As an alternative, you can probably insert an early termination fee amount so it provides flexibility for the tenant to leave without having to deal with subleasing issues; however, you'd have to consider worst case scenario: Tenant exercises the early-termination option in December, which places you in a tough situation as a landlord in the Chicago area. 2.  

Even then, it won't be totally flat, but gently sloping is possible.Homes under 200k are really in demand.