@Ducote Kiernan I'm not a tax professional, however, we have a rental not yet in an LLC and we pay our rental expenses out of our job and our CPA uses theff m as deductions on Schedule E.

You also should touch base with @Ronan M. as he works those neighborhoods all the time and owns buildings down there.I am partial to the western suburbs.

Give your insurance person a shout. 

The meaning of is when a right in a land is inherent to the person as the natural consequences of property ownership.

It is so dangerous to collect rent with cash and in person. As

It will be very difficult for you to get a good feel for the market (even if you visit in person a couple of times), and you will have to rely heavily or completely on third parties who are generally not financially aligned with your long-term interests.

@Jay Hinrichs thanks for the feedback,  I've been eyeing auctions online and in person as well, attended one at the courthouse recently just to get a feel for how it works. 

This is going to vary place to place & from person to person as everyone's got their own scale. 

I like to think I am a people person, a great salesman, as well as creative.

I like what sam said, providing housing means no rent or mortgage payment which would allow that person a little more breathing room in their monthly expenses.