Maybe not a bad idea to double check with one of the web-based calculators until you figure out what you did wrong on the BP one.ARV is all about comps when it comes to residential properties.

Landlord: Focus on applicant criteria, vetting potential tenants, thorough lease agreements, outline tenant expectations, perform regular walk throughs with tenants, and use web-based rent collection and maintenance requests. 

Most people don't really understand what that means and misuse it all the time.I'd start with the municipal web site to see who is listed as the owner there.

If your startup costs are less than $5,000, you can expense it as a “start up cost” under “other expenses” rather than amortize it over 15 years (which I point out only because you might find something amount amortizing start up costs on the web somewhere).

It also includes common forms that you can edit and use.Their web site is a free resource with links to your state law but I highly recommend the book for some of the practical advice they provide.

@Gino ColucciYou should be able to find plenty of Chicago agents on here or by searching the web.

Homeaway's Community web site is also a good resource.  

My advice, get your first property into an LLC before thinking about developing a web of entities that hold all of your properties. 

I'm an SEO and online marketing expert for real estate professionals and I had a web designer that basically owed me $20K in services.Throughout the whole process, I was careful to make it seem like if he did any of the things below that I would undo whatever I did.

So many of the complaints and flat out scams on this board and elsewhere are from those who insist on doing business anonymously with strangers they met on the web.