Often, those advantages are boots on the ground and market knowledge, which are the two things you have/are working on.I think, in general, you will find all those central Illinois areas provide decent cash flow with low appreciation - generally speaking. 

I personally invest in Columbus for its growth and appreciation potential, but the prices are generally higher than in other markets like Cleveland and Dayton, which are worth exploring if you're focused on cash flow, typically ranging from 10% to 18%.

To determine if the expense should be classified as a capital improvement or a deductible repair, the context of the expense is very important.An example is, if an item of expenditure is part of a general plan of modernization, renovation or rehabilitation to equipment or other business property, it typically must be capitalized even though on its own it would be currently deductible.According to IRS Code, expenses that you must capitalize are those that:Materially increase valueSubstantially prolong useful life (including replacement of deteriorating assets)Adapt the property to a new or different useHowever, you are allowed to deduct expenses and fees for routine maintenance and repairs that help keep the property in efficient operating condition.

Also file with state attorney general.

Addtional Insured status for you on the SL's Insurance policies (General Liability, Professional Liability, Workers Comp., etc..)2. 10 day notice of cancellation from the SL's Insurance carrier3.

Looking for advice on what to expect, information on good General Contractors, Realtors etc.

From what I hear, cold calling can be effective but generally it'll take 200+ calls to land even a few possible leads.

Given these things, in a normal circumstance, I try to increase rents 1-3% annually believing that is generally how much rents will increase LONG TERM and that a tenant's pay will likely rise in that range each year on average as well.

But if you have intimate knowledge of the nuances of each market, who the buyer is, what they value in their houses generally, you will make money. 

I've never done this when applying for a new card BUT I've found this department to be generally helpful and you may be able to say - Hey Amex, I qualify for this offer for a new card with Discover, I'm a loyal Amex card holder, is there any kind of retention offer you can make me that would come close to this Discover offer.