Ok, so kitchen and bathroom updates.Would you be willing to explain the 70% rule in layman's terms? 

Be sure to explore all around the forums as well as many of the FREE tools that Bigger Pockets provides.I am on the lending side of things and am always happy to hop on a call to discuss loan options that are out there, even if not offered by my resources.

It can simplify end-of-year paperwork, but you’ll want to confirm the details with a tax pro.3.Long-Term Game PlanPaying out of pocket and keeping your medical receipts can be a great strategy.

I am bullish on Chicago long-term and will still own 10,000 doors on the southside with a goal of turning all 10,000 tenants into homeowners!

It is hard to tell what's going to happen in the Danville (Casino) area, but from what I hear, the casino plan would bring in over 1000 jobs, new police precinct short term goal and actively trying to get other companies to move in to the area for long term goal.

I purchased this using an FHA loan and the address listed on the loan is 1001. 

.✅ Flexibility – Month-to-month leases may work better for students, traveling professionals, or short-term renters.Cons & Risks of Renting by Room:🚨 Higher Tenant Turnover – More frequent move-ins and move-outs mean more wear and tear, vacancy gaps, and potential management headaches.🚨 Increased Tenant Conflicts – Screening matters because you’re placing strangers together, and mismatched tenants can cause issues for everyone.🚨 More Lease Enforcement Challenges – Handling disputes, unauthorized guests, or noise complaints becomes more complicated with multiple unrelated tenants.Why Proper Screening is Critical:Not all background checks are the same!

The information as to market pricing is too readily available to every seller, so that the advice of 25 years ago - target long term property owners who live out of town and haven’t kept up with the value of their property - is no longer a viable approach.So, what is left?  

Here’s a breakdown of the pros and cons of each approach based on my experience:Tenant Swapping:Pros:Tenant Retention: Keeps the property occupied, which helps avoid vacancy periods.Minimizes Turnover Costs: No need for cleaning, marketing, or re-screening tenants if the new person is already known.Flexibility for Tenants: Can be seen as a more tenant-friendly approach, allowing them to find a replacement without facing penalties.Cons:Risk of Unknown Tenants: The new tenant might not be as reliable as the original one, leading to potential issues down the line.Lease Violations or Delays: If the new tenant doesn’t meet the lease requirements or fails to sign a new agreement, this can lead to complications.Operational Complexity: Keeping track of the lease terms, managing paperwork, and ensuring proper screening for new tenants can increase administrative work.Notice for All (One Notice to Vacate for Everyone):Pros:Clear Expectations: Everyone knows what’s expected, and there are no surprises with last-minute tenant changes.Consistency: Easier to manage leases and tenant turnover with a straightforward system.Quality Control: You can screen all tenants that are moving in, ensuring the new occupant meets your standards.Cons:Longer Vacancy Periods: The property may stay vacant for longer, especially if finding a replacement tenant takes time.Tenant Frustration: Current tenants may not be happy with the requirement to vacate, even if they want to stay.Marketing and Re-screening Costs: You’ll have to go through the process of finding and screening new tenants, potentially leading to increased costs and downtime.I’d love to hear what others are doing!

Market activity continues to increase and peaks June-August when kids are out of school and parents don't have to worry about mid-term school transfers.Finally, many owners only look at Agent/PMC pricing, so have never asked their PMCs enough questions about rental property marketing, showings, prospect screening and what information about all of it will be provided to them.Here’s some questions we hope it’s not too late to ask:What websites does your property show up on when you Google the address?