(Excluding banks from this topic please, thank you)Thank you BPeers!

If you have firm criteria like no violent felonies put that but you are better off not trying to anticipate every crime you could exclude. 

Hey @Dennis Kepcha - Yes, typically in Chicago all utilities excluding water are paid by the tenants. 

This is the first year we will do our taxes using an LLC.(1) Should we exclude our owned property from the LLC (as far as the operating business, not the property itself), or should we still include it?

You'll want to get on an MLS search that excludes condos with rent restrictions, an agent should be able to set you up on that. 

They have some real estate section 8 landlords who give you real good insight on section 8 tenants, there lease addendums, and amenities to include or exclude.

Payments that you make normally fall into one of 3 buckets100% of the payment can be factored in somewhere on the returnPartial payment can be factored somewhere on the return0% of the payment can be factored in somewhere on the returnHouse-hacking also has considerable tax implications in the event that you want to sell this property.You can potentially defer a portion or all of the gain on the investment property with 1031 exclusion.You can potentially exclude a portion or all of the gain on the personal residence with section 121 exclusion

And if you study the facts, exclude opinion, theres a greater chance of losing properties to rent controls in the states than narco rebels in Quito, Ecuador.  

(excluding reno).

This guide should exclude the profitability and 2% 50% 70% rules and should only focus on steps of buying a property once a person have done their calculations.Thanks a million in advance because this will help thousands of newbies pouring in this field to understand the process and not make mistakes and fall in traps that other professionals may have faced.- Inam