In the inner city slums of Chicago, Charlie Verducci is a superintendent of a run-down apartment building who lives with his dumb 20-year-old son Vinnie and their white Persian cat, Mr. Fluffy. Vinnie is recovering from a boxing match that he lost the previous night, while fending off come-ons from their 16-year-old neighbor girl, Mona Mullins, who has a crush on him. After visiting Charlie's life-long childhood friend, Al Bundy, at his shoe store (who bet and lost his TV set on Vinnie's boxing fight), Charlie comes up with a "Verducci Master Plan," he and Vinnie ...
Charlie tries to hustle a country club member at a game of billiards, then comes to the realization that the guy may be a gangster. Meanwhile, Vinnie entertains the man's niece, Romona.
When Vinnie overhears a stock tip, Charlie sees dollar signs and hits up a loan shark. Meanwhile, Alex demands Vinnie fire two of the three waitresses he hired.
Vinnie meets a beautiful Italian princess. When it comes time for her to return home, she invites him to come back to Italy with her. "I want to show you my Rome...I want to show you my Venice...I want to show you my Naples" (sounded like nipples). Vinnie replied: "Ooh, I'd fly 6000 miles to see doze!"