Making the basement a legal unit is costly but can be done as an ADU depending on your exact location (ADU zone maps are on City of Chicago site).

Here's another idea.There should be a legal publication in your area (ask an attorney) that has this info too.

@Zhenyang Jin A DBA is generally not necessary for your LLC in California unless you plan to operate under a name different from the LLC’s legal name. 

I will send you a copy of the agreements that I have and they are legally binding. 

Great news for some, the loan will be a portfolioed loan and they are probably insuring the portfolio and reducing risk, but other underwriting guidelines would be interesting to see.

(this was Upset Sale where all liens transfre to the new owner.)I am not an attorney, nor an accountant, nor a CFP, nor a doctors and am not giving legal, accounting, financial or medical advice.David KrulacBigger Pockets Podcast #82

Maybe just say you will pursue legal action if the situation isn't immediately addressed.

https://www.biggerpockets.com/forums/51-tax-legal-issues-con...

But, this might not exist prior to close.Although I'm just starting out and don't know too much, I would think having your tenants sign estoppel certs during escrow (as @Aaron K. suggested, to which I just learned) is necessary so as to avoid any unwarranted legal disputes. 

@Marcus GriffinTypically as part of a modification the bank will have a “shock package” which includes information and forms to be completed by the borrowerOn those forms there are questions like will they or do they occupy the property, there income, do they plan on keeping th home.This is equivalent to lying on a bank application which is most likely considered fraud Not providing legal advice but this is definitely a very slippery slope you are getting involved in.