Any suggests from your personal experience would be greatly appreciated!

I personally owned a rental there for 7 years, but I just recently sold it.

I have personally purchased large apartment complexes from REITs and know how poorly some of them manage their properties. 

It's like the person who goes and buys a bigger tv because it's 40% off when you had a perfectly working tv.

Any person over 18 should go through the tenant screening if they are living there...they don't necessarily need to be on the lease, but there is another area on the Chicago Association of Realtor's lease to add occupants.

I know this is an older post, but are any of you interested in meeting up in person and getting something going? 

Would the person who takes on more labor to repair the property have greater preferred equity or is this usually treated differently?

I had a “lender” tell me he’d give me a personal loan with a fixed 4% rate on a 30 year term at whatever amount I wanted because he would like to “build a relationship” with me. 

I believe Alexandria city allows it but portions of Fairfax county do not allow it. i would go option 1 personally. 

So I don’t have to reinvent the wheel every time I hire a new person.