At the risk of being proven wrong, I find it hard to believe that the Department of Homeland Security is involved in investing a failed real estate investment. 

That's why the cash flow is low on that one, because it has a bigger mortgage.For the most part I consider Taylor to be B class.

From what I've read, some electric providers might not charge for the new service upgrade itself, but adding the meters, connecting the upgraded service and adding/updating panels would require an electrician, which would incur costs.If anyone has experience with this type of electrical service upgrade, particularly in Chicago, I would appreciate your advice and any information on costs and the process involved. 

. - Are u sure there was a 1031 involved?

What I have gathered through 3rd parties is that if a basement does not have access to the outside then the windows in the bedroom are considered to be the 2nd means of egress.

Meaning if there are partners involved, are you compensating your self for the time you are spending on management?

Hey @Devon Moore not sure where or why you'd lean towards a land lease unless that's standard for this developer.In my experience its difficult to capitalize deals with ground leases involved.  

Leverage magnifies return. 3) The effort involved in adding an ADU is comparable or larger than a rehab associated with a BRRRR.

While you shouldn’t categorize all tenants and it’s the landlords responsibility to properly screen, the tenants who reside in better situated housing and pay higher rents are more financially responsible meaning lower rate of rent loss and will generally take better care of the property which combined will result in less time allocated towards management functions if self-performed or more favorable management fee structures if 3rd party management companies are utilized (which ties back to #1, as well).

My main advice for avoiding liability is: (1) work with a great insurance broker to get comprehensive coverage; (2) avoid signing full recourse personal guarantees whenever possible; (3) max out your 401(k) or defined benefit plan with ERISA protection; and (4) strive to reach a point where you’re not personally involved in the business’s day-to-day operations.Disclaimer: While I’m a licensed attorney, I’m not your attorney.