Has any other state passed similar laws?

The Law Offices of Dionna Reynolds is amazing and thorough!

Learning to manage locally is trial by fire. 

I wish our local reia was like this.

I don’t want to keep up on local, state and federal law changes so they keep me legal.

As for QBI, the current way the law is written is that QBI will expire by 2026 when the TCJA sunsets.

The answer will depend on state law as @Greg M. alluded to but also what your lease says. 

.✅ Hands-On Experience – If you plan to grow your real estate portfolio, managing tenants yourself can teach you valuable lessons about leases, maintenance, and local rental laws.✅ More Control – You’ll personally handle tenant screening, rent collection, and property upkeep, ensuring everything is done to your standards.✅ Stronger Tenant Relationships – Being involved directly allows you to build rapport with your tenants, which can lead to better communication and longer leases.Cons of Self-Managing❌ Time-Consuming – Dealing with maintenance requests, late-night emergencies, and tenant disputes can quickly become a second job.❌ Legal Risks – Chicago has strict landlord-tenant laws.

If she's willing, which it sounds like she is, your mother-in=law can get the line of credit with her property in her name and then you can just use the line. 

You still have to comply with all relevant laws.