Yesterday I wrote short post pointing out the Rogers Park two and three-flat investment market. Living in these buildings as an owner operator and participating in the city voucher program can be a wise move financially. But it's not an easy move.
First, there is city red tape to deal with. Some "red tape" is good like the checklist for owners... responsible landlords will improve a neighborhood. Check out the Owner's Guide to the program HERE.
Second, maintenance and turn -over (vacancy) in the units are unknown costs... you have to have a plan to deal with these irregular spurts of income and expenses. Finding good tenants who care for the property while living there is tough for any landlord.