Chicago has such a great investing community compared to most places in the US I have visited!

That's Property Management 101.If your PM didn't have this lined up and didn't make you aware of this limitation upfront, that's a red flag.

The current commissioner would allow insurers to use computer modeling of future exposure to set premiums, while requiring them to offer coverage in risky communities roughly in line with their shares of the market.  

Quote from @Keira Hamilton: Hey BiggerPockets Community!

I initially resided on the property as a tenant myself.Prior to the current tenant moving in, all tenants were aware that I was getting married and would eventually move out of the property on Nov 18th, 2024, with the expectation of moving out of state by the end of December.It was understood that I would continue to utilize the garage and one room for storage as I transitioned to living out of state.All tenants were also aware that I would continue to access the property during this transition period.The tenant in question moved in Nov 1st, 2024.

Welcome to Chicago and excited to have you as part of our real estate community!

Thanks for helping me.Regarding my first deal, I am aware that there might be repairs, maintenance, emergency fund, etc. for a normal real estate investment.

I am aware of how the lease option business model works, and it's terrible. 

Quote from @Natalia Perlova: Hi there BP community, looking for your advice on the following please: i inherited a section 8 tenant who pays way below market, acts shady, had an issue with the leaky toilet for years, which damaged the floor and cost me $$$ to fix.

I am leery because it is such a small deal…just 1 small 1 bedroom unit…and not a great a deal unless maybe you are local and have a use for it…walk to community college.