The attorney took care of the legal side to get it off of the demo docket while we worked w/ the GC to obtain the permits required for the renovation & then executed the renovation project.While taking a trip to the City of Chicago building department may be educational, I think the best use of your time is coordinating w/ your attorney & your GC.  

I’d be happy to speak with you at some point as you all do your research and learn more about executing this strategy and the city itself.

Your only recourse is as to the individual borrower, IF they executed a personal guarantee at the time of the loan origination.   

A lot of manpower is lost.As we approach our busy section 8 season (for us April - July) I am looking for better ways (more affordable and efficient options to the investors bottom line) to plan for and execute the workload which may include hiring someone that has section 8 experience to handle our CHA inspections(and associated maintenance work) or a company that we can outsource when the weeks get slammed with inspections. 

@Joseph O'Sullivan owners should ask less questions about prices & services and more questions about how services are executed!

I see the House passed the Tax Relief for American Families and Workers Act of 2024, meaning that bonus deprecation may get extended. 

Here are some favorites among real estate investors:"Set for Life: Dominate Life, Money, and the American Dream" by Scott Trench: While not solely focused on house hacking, this book offers practical advice on building wealth through real estate investing, including house hacking strategies."

WE all have clunkers myself included it simply impossible to have a perfect record when you are counting on a third party to execute and pay..

Our company, 1031X, is 30 years old and is qualified to execute 1031 exchanges in all 50 states.

American homeowners could see a significant drop in the cost of selling their homes after a real estate trade group agreed to a landmark deal that will eliminate a bedrock of the industry, the 6 percent sales commission.The National Association of Realtors, a powerful organization that has set the guidelines for home sales for decades, has agreed to settle a series of lawsuits by paying $418 million in damages and by eliminating its rules on commissions.