I know a lot of the same questions I hear consistently are answered on these posts so hopefully this will be useful for you. 

I would say at minimum you need your lease, your 3day notice letter, mail receipts, pictures, etc, also perhaps a copy of your bank statement where you show they paid rent, then didn't.Get busy with this....if they can't pay $900 or whatever this month, no way they can probably pay $1800 next month or $2700 in month 3.One thing that might save you time.....mail, certify mail, and hand deliver your 3 day notice. 

For most of the area they restrict it to 6 months of the year for STR.This is direct from the website:https://www.cityoflakegeneva.c...Each Short-Term Rental shall be managed consistent with the followingrequirements:i.

In my view, it's challenging to find a great contractor without providing them with consistent business, which is difficult to do without having properties that require renovations.

. - Wait and hope that they deliver returns. 

All of the above will work with some consistency and luck.

Consistent recurring money in the bank.

If a 20 x 8.5 unit delivered is $3000 and it rents for $90 per month that is 3%, at a time when 1% is hard to find.

In my network I've reached out to a RE friend of mine and she has a investor end buyer that is interested in my deal which consists of 3 properties as a package deal from the seller i.e the seller does not want to sell just 1 of the properties it must be all 3 of them which are cash flowing rentals.My question is my RE friend has to legally transact the deal on a "CAR" purchase agreement.

As far as 20% down, I am not sure but I believe this is more or less consistent with the US because I don't believe banks will normally lend on rental properties for less than 20% down unless they are owner occupied.