Does anyone have a good inspector recommendation in Chicago northwest suburb ?

When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.

This specific deal was a close friend's apartment that he was renting.

Being a part of the local REIAs in both towns can help you understand more of what is going on.  

Glad to have you as a part of this awesome community, Chandler! 

Just in case.Ultimately whatever correlates with your future plans but a solid way to build long term wealth.

A big part of that will be condos and multi-family apartments in place of the single family homes that WERE there.

What rate, term and amount borrowed did you get for the ADU build and what was the cost?

Here’s my honest advise; consider studying for and obtaining your real estate sales license, and obtain a part time position with a real estate agency that will provide training, guidance, and oversight.  

The only exception is for on-site managers, like you'd find living in one unit of an apartment building and managing the building on behalf of the owner.