-Real Estate is a numbers game so find a budget that makes you comfortable.

Smaller banks and commercial lenders may allow an assumption but rarely as they would rather make a new loan and an assumption may not have any new buyer's skin in the game, not a good lending practice.

So we stay busy regardless, our revenues doesn't vary much.

Chicago renters know the game and always  rental lease addendums be best looked over by a Chicago Lawyer before you start pissing off your renters.

@Daniel Raposo, really great to hear that BRRRR can be a reasonable strategy at this stage in the game for the right deal.

Don't forget to contact your insurance company - as breed/weight restrictions can vary from carrier to carrier.I usually suggest adding a section in the lease that is a notice to the tenant that the insurance on the property will NOT cover the tenant's personal belongings or their temporary housing in the event of a catastrophe.

Electric/gas are a completely different story and would require some local knowledge about utility usage/rates as that would vary greatly from location to location.You should find out if it has separate meters before doing anything else.  

Lower price markets it happens for sure, but its a different game here. 

(I think this one might vary by state.)- This is from the perspective of only ever having functioned in a hot local market that is ALSO comprised mostly of 50+ year old housing stock.

I am sure pricing varies greatly.