@Harrison Jones  One of the major flaws in your perspective is that it is focused on cheap rent (driving rents down) not affordable housing.

Quote from @Kristian Sexton: Speaking from a PM perspective if you were going through an eviction process they probably assumed that the tenant would just leave the property. 

I am admittedly a newb in the process of getting all of this set up for my first rental (so correct me if I'm wrong) as well but I have some IL-specific perspective to offer: From what I have read, as of 1 Jan 2024 in IL, landlords cannot exclusively accept EFT payment of rents (includes Venmo, Zelle, etc.) for leases starting on or after that date.

For a $1,500 SD, they would most likely ensure an amount close to $2,700.From my perspective, we should never move in a tenant who cannot afford their security deposit.

Many have their own opinions/perspective of loopnet for deal flow, but at a minimum you can see who the active brokers are in a particular area.

Specifically on the house hack - I'm not sure if the juice will be worth the squeeze from a tax and accounting perspective to run anything through an LLC.

The insights shared by the Realtors, @Zeke Liston, @Jimmy Lieu, @Nathan Gesner, @Samuel Diouf, @Sam McCormack, @Min Zhang provide a solid foundation for anyone starting out in this industry.From a property management perspective, it's great to see you're considering the long-term rental strategy.

For perspective, last April I closed on a new construction loan (build to rent) with a turnkey company there (Rent to Retirement).

@Chris Seveney Hey Chris, Thanks for sharing your perspective, it’s a smart, long-term approach.

I oit's too much drama to do a wrap, it's not mutually beneficial to all parties and not a true deal (from my perspective anyway).