Quote from @Sarah Kensinger: I love Minoan and HostGPO also, but Minoan is free to use!

Not going to give here a lecture on S-corps, but take my word: no benefits, only extra hassle and extra cost, such as preparing another tax return.

I own the property free and clear and i use the equity as part of my business line of credit.

Hey @Matt Smith 👋🏽I agree that it's not worth renovating the basement - too costly.

Streamlining Renovations for Efficiency & Cost ControlManaging multiple renovation projects at once demands an operational efficiency that can be tough to achieve.

Please free to reach out with any questions.

Evaluate Property ConditionOlder Chicago buildings often have charm—but may come with hidden costs.

Way better returns on the cost seg than you'd ever cash flow from an LTR. 

My strategy incorporates asset protection measures like LLCs, specific trusts as well as professional property management to spread risk and ensure quality operations.As well as using tax codes to my benfiitSection 179, IRC Section 162, Cost Segregation and Bonus Depreciation and later 1031 them out for larger projects. 

Feel free to shoot me a PM.