As to the buddy I mentioned in Washington state it was the same scenario; he converted tax-free up to their standard deduction but above that he kept within the lowest tax bracket and paid the smallest amount of tax possible.Thank you @Basit Siddiqi for calling me out on this and giving me a chance to address my mistake; it's important people have the correct information.  

I’m a licensed agent in multiple states (my Arizona license number’s on file if you need it), and while I’m not your attorney or accountant, I’ve seen more real deals than I can count.

People probably do this all the time, but skirting the law and subject to red tag if the city finds out. 

I use Appfolio for my property management company but I think they have a minimum door count of 200. 

My question for the group is would my hours as a contractor also count twoards the needed 750 hours?

Thought about Stainless Steel wire, but tends to sag if people put their feet on. 

From the fact sheet it's not clear to me if I would be able to evict both tenants or just one of them because it says you can take possession of only one dwelling unit and I am not sure if each of the studio rooms counts as a separate dwelling unit?

As the 3rd largest MSA in the country it's hard to generalize the Chicago market as it's actually over 100 different submarkets when counting the 78 communities in Chicago property and then adding in the various suburbs, including in and around Naperville. 

If the answer is no to any of these, don't count on capital being thrown your way.

Correctly reported, a HELOC does NOT count against your revolving credit utilization.Using this strategy, you're borrowing and repaying an amount annually.