All Forum Posts by: Mark F.

Hey @Adam Delort welcome. I am in Elgin, recently got started in REI myself and am eyeballs deep in a rehab house in South Elgin. I don't have a huge amount of experience as of yet but if there is something I can help with hit me up.

Mark 

Thanks @Patrice B and I've already met Jennifer and appreciate the referral. 

Welcome @Ramadan Adili and best of luck, I am also in Elgin as well and recently started in REI myself. Mark

Try Leo Cox insurance/tax agency on Larkin Ave by McLean, they not only know the tax rules for investment property and have been doing it for years but they also own several properties themselves.

http://www.leorcoxagency.com/

@Sylvia Pomazak - I live 5 min away from you and this could have as easily happened to me or anyone else. Thank you for sharing your story and exposing the scam and what you went through, as heartbreaking as it is you more then likely may have spared someone else from having to go through the same thing with these two.... until they make a new profile name I guess =/

Also, do you know if the upper unit has a rental license from City of Elgin?  I know that they require as well as yearly inspections, or if you get licenses as a landlord the inspection is every 3 years. Either way landlord training program is done by Elgin PD and there is a Crime Free Addendum added to all leases signed that makes it easier for the landlord to get rid of problem tenants. I am very familiar with the program and its great. 

I can't say for sure what FHA requires for a 2nd floor unit but I can tell you Code Enforcement does check for required entry/exits and its dependent on the sq footage of the unit. I know because I have a 2 unit and one of them is a studio and it is only required to have one door, but its on the ground level.

@ Joan Raino I'm in Elgin, IL and very familiar with the area and have rental property there as well, plus I live and work in Elgin, we should meet up and compare notes as I am also new to REI.

Are you house hacking and going to live in the lower unit, is that why you are going with FHA?

I have been using Property Buddy and it works for me for the 2 unit I have. There are several reports that can be run and emailed/printed that are very useful. It was free to try for 10 days or so if I remember correctly and was only $10 for a year full the version fo 1-4 units if I recall correctly.

Just my $0.02