They all comp differently...Put VERY simply:Urban areas, you want to try and stay within 1/4 mile and/or same neighborhood/subdivision.Suburbs, you want to stay within the same subdv/neighborhood, sometimes this can be more than a 1/2 mile radius if it's a bigger sbdv.

Some weak neighborhoods will pull as much rent as nicer neighborhoods.

Most of the houses priced similarly in decent older neighborhoods are worth half what mine is or less.

Its just under a acre in a subdivision in a pretty good neighborhood.

Just curious - what neighborhood of Chicago is it in?

I settled on a condo unit for a few reasons: in my target town, an affluent college town, I cannot afford a house that would be a nice enough neighborhood to attract the type of tenant I want.

Commercial mortgages aren’t highly regulated; most of the time only a real estate brokers license is needed to open shop and in some states, no license at all is needed.

There is a lot you learn from driving the neighborhoods, meeting neighbors, talking to your tenants.

I would keep shopping for other mortgage brokers or work with smaller local banks.

I'd like to shop around, but was wondering what you all normally do?