Tell the truth, because if they are trying to purchase a home and a verification of rent is from a private party we'll ask for supporting documentation from the borrower anyways, as we know landlords may stretch the truth. 

They will need to see all of the documents you've signed regarding the loan.

Hey @Ali Farhat - I think your first step is to see how many units the building is zoned for to see if "BY RIGHT" you can add a unit in the basement without the need to go through the ADU program.You can submit a zoning certificate to the city of Chicago to understand the current situation. 

Communication with the Current Property Management Company•First, establish open communication with the outgoing PMC to coordinate the transfer of information and documents.

I haven't submitted a LOI yet. 

Document your experience so you can share a case study here or at your local REIA

I am going through the eviction of my tenant due to non-payment.We had the judgment pay and stay from the judge, but the tenant submitted an emergency appeal to the judgment. 

@Sam FaasAn owner financing agreement between buyer and seller should always be memorialized in a written document that includes the specifics of the deal.

@Zac Gorski review your closing documents carefully 1) if owner occupied mortgage, it usually requires you occupy x days from closing date (ours was 60) so maybe ask insurance and mortgage for extension if needed. 2) does your state have some rule where you can end a lease early to move in?

Some lenders have specific guidelines on how often you can rent the property out and may ask for documentation proving that it’s for your personal use for part of the year.2.