All my properties and cash flow calculations use a $10,000/year repair and capital improvement budget, which if not spent adds significantly to returns.
3-unit building on the border of Logan Square / Avondale purchased with FHA financing in Sept 2014 and refinanced in 2016. 16.1% cash flow based on a 25% downpayment, although initial FHA downpayment was $10,000 (after seller credit for closing costs).
4-unit building in Portage Park. 6.5% Cash Flow currently, 11.1% Cash Flow once update projects are completed, including adding a bedroom to a 1-bedroom apartment, and building a new 4-car garage in the oversized backyard. Potential for rent appreciation as 6 Corners Redevelopment Project is completed in 2018.