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In this episode, we are joined by Tim Harstead from Chicago Style Management to explore the realities of property management. Tim delves into the day-to-day challenges and responsibilities, providing a comprehensive overview of what property management entails, whether you're doing it independently or hiring a professional. We cover how property management is classified, the importance of accurate record-keeping for tax savings, cash flow nuances, and the key ways to make money in real estate. Tim shares his insights on the differences between A, B, C, and D class properties, common pitfalls landlords face, especially with maintenance and tenant screening, and his unique flat fee pricing model, and much more. This episode is packed with valuable advice for anyone in the property management space or considering getting into real estate investing. For more from Tim, check out his YouTube Channel Here: / @chicagostylemgmt Or to explore Chicago Style Management further, check out the website here: https://www.chicagostylemanagement.com/ For more info on investing in multifamily properties (especially 2-4 unit residential properties), check out these resources. 💾 Download Your Free PDF Here: https://www.mychicagomultifam.com/res... 📩 Join the Daily Chicago Multifam Newsletter for Exclusive 2-4 Unit Deals: https://www.mychicagomultifam.com/dai... 💬 Questions? Drop a comment below or book a free strategy call: https://www.mychicagomultifam.com/boo... 📍 Follow for More Chicago Multifamily Investment Insights: 🔹 Instagram: / jakelyonsrealtor 🔹 LinkedIn: / jakelyonsrealtor 🔹 Website: https://www.mychicagomultifam.com/ This video is for educational and informational purposes only. I am a licensed real estate broker in Chicago, but I am not a financial advisor, mortgage lender, or attorney. All investment decisions should be made based on your own research and consultation with qualified professionals. While the tools and strategies in this video can help you make informed decisions, real estate investing carries risks, and there are no guarantees of returns. 📩 Have questions or want to discuss your investment strategy? Drop a comment or schedule a call! https://www.mychicagomultifam.com/boo...