However, very glad that we pivoted to mid-term rental approach around $4,500 to $5,000 that has helped address vacancy.

Feel free to reach out if you have any questions.The Short- Term Rental Loophole ExplainedThe Short- Term Rental Loophole Explained

In the long run it would save you $. 

You may need an independent appraisal if the value of the property exceeds $5,000, as the IRS generally requires this for non-cash donations of significant value.Capital Gains Considerations: If you've owned the property for more than a year (which you have, having owned it for 10 years), the house is considered a long-term capital asset.

Property went on the market that week as we began negotiating terms.

The max term for the loan for my wife and I is 5 years. 

It takes a very long time to even get in the ballpark.

I've done and been a part of many Chicago zoning changes...they take a very long time and a lot of upfront money...unless you are planning to add multiple units and do a full renovation, the ROI is probably not there.

AirDNA shows it on the rise in terms of annual revenue, occupancy rate, average daily rate and revpar, with about 3,000 total listings.

Lucy: your story shows that setting up a loan is more than just interest rate and other terms.