@Jason WuThere are several considerations that can go into the analysis of whether you need an LLC or whether a large insurance policy will suffice.

I would approach the Bldg Inspectors & see if a complete fire sprinkler system would suffice & negate the need for an external fire escape.

A simple lease cancelation would suffice.  

A 10 day inspection period should suffice.

Account Closed should you do all the steps that you outlined through a lawyer, or would the title company suffice?

I’ve worked throughout college but I’m not sure if that’ll suffice for the employment requirement.

With having it under contract and having a memorandum recorded on the property, will that suffice in place of a NCND agreement being signed?

Hi all,I am currently in negotiations for a 3-unit property in Chicago that I plan to live in one of units and use at least one of the units as an Airbnb to start with, while renting out the last remaining unit.I am trying to understand whether I need to apply for both a registration or license number (Vacation Rental) or if a registration number will suffice.

An appraisal from a licensed appraiser is the best supporting evidence to have in this situation, though other valuations from real estate professionals may suffice and can be obtained at a lower cost, if any.

It is usually a waste of money if what you already have will suffice.