Your participation in the activity for the tax year constitutes substantially all of the participation in such activity of all individuals (including individuals who are not owners of interests in the activity) for such year.2.

See Vacant Building Ordinance and registration form at https://ipiweb.cityofchicago.org/VBRCN193029Maintain watchman from 4:00 PM to 8:00 AM for vacant and dangerous residential premises. (13-12-140)CN193019Repair or wreck dangerous and vacant residential premises. (13-8-100, 13-12-125, 13-12-130)CN193000Maintain building in safe condition so it does not constitute actual and imminent danger to public. (13-12-130, 13-8-100, 13-12-120, 13-12-125, 65 ILCS 5/11-31-1) Maintain building windows and doors in safe condition. (13-196-550) Maintain stairway and porch in safe condition. (13-196-570) Maintain floors, walls, and ceilings in safe condition. (13-196-540) Maintain building in safe condition.

How much profit constitutes capital gains? 

I want to point out something about what @Theresa Holl said.All those things are very cool and would be nice to offer, but they would constitute significant services which will change your taxable status.So you really have to balance those sorts of special experiences or offerings.

If you buy as an owner occupy but do not occupy the property, this would constitute mortgage fraud and is not a path you want to go down.

Herzliche Grüße-Andreas* The preceding has been my opinion only, the views are my own, and are intended for educational and entertainment purposes only and does not constitute financial advice.

Herzliche Grüße-Andreas* The preceding has been my opinion only, the views are my own, and are intended for educational and entertainment purposes only and does not constitute financial advice.

I don't know if this is common in most politically blue states, but I heard a lawyer from Los Angeles once say this (from his experience with SoCal judges): the failure of a tenant to procure renter's insurance will not alone constitute sufficient grounds for eviction under a lease agreement.

@Denise Evans -- What actually constitutes possession?   

That would just constitute a warning.