The area was designed as a retirement zone and it still has that reputation.

Our SRPD has no section in it which specifically asks if the seller has knowledge there was past fire damage (unlike for mold) to the property, however, the buyer's inspection revealed burned wood that had been sprayed in the attic.

For example, use STR Insights and Airdna, and get rental projections from a reputable PM.

You can also require a paren on the lease for any student as a back up to cover damage outside the first. last and security.

For hardwood, that will take much longer and I'd bet they'd walk on it or move heavy furniture before the top coat is cured and damage it.

They will get a $100,000 liability to cover fires, water damage, accidents, and more.As @Greg Scott stated, you should require your tenant to add you as "additional insured" on their policy.

Good morning,Can anyone recommend a reputable general contractor who can specialize in rehabbing a multi family in the chicago land area.

This is basically you paying into a bond that will pay damage and lost rents if you are unable to the landlord but this isn't a collective of money pooled together for the common good. 

", shows your inexperience.The cashflow numbers for Class C & D properties only look good on paper because few investors plug the correct assumptions into their ROI calculators.Have seen many newbies use a 5% vacancy factor for Class C & D properties with nothing built into their calculations for tenant-nonperformance or the extra damages low-demographic tenants statistically cause.BTW: we recommend using at least a 20% Vacancy+Tenant-nonperformance number.

As a Property Manager in a market where many owners choose to manage on their own, I've seen several examples of owners losing their homes or properties because their tenants did not pay or caused excess damage.