Originally posted by @Alleia on Bigger Pockets
@Crystal Smith Hi Crystal! I am looking for 3-4 multifamily property on the Southside of Chicago and south suburbs. I would owner occupy one of the units. What do you recommend? Should I look at different areas? Warmly, AJ
@C Smith Reply: My first recommendation to owner-occupants is to make sure you feel comfortable/safe living in the area or; If you purchase in an area that makes you a little uncomfortable then make sure your renovation plans include provisions where you at least feel after in your own home.
Regarding the Southside of Chicago to owner occupy a 3-4 unit multifamily. You'll do just fine depending on location, location, location. In some communities, it's a block by block evaluation.
Regarding the south suburbs- I think I've said it at least 100 times on BP forum, watch the taxes. As an owner-occupant, you'll get a little bit of a break on the taxes but if you're considering purchasing a property from an owner-occupant, analyze the property as if you're an absentee landlord and increase the taxes by at least 20%. If it still cash flows then you may have a deal. If not then pass.