I often hear from my tenants that they didn't question my rent price because the others they looked at were not well maintained.

We've maintained 95% occupancy for years. 

Was a huge PITA to setup, but is now very clean and easy to maintain.

With an irrevocable trust, for instance, the property is considered outside of the personal estate of the grantor, which can lead to different tax treatments compared to a revocable trust where the grantor maintains control over the assets.When it comes to capital gains tax, it's not just about whether the property is in a trust but also about how long the property was held, the basis at the time of transfer into the trust, and the selling price.

After some time and hard work, these income streams start to build and are able to maintain themselves, bringing you consistent revenue without much effort on your part. ⁣

There I am hoping it weeds out some poorly maintained properties. 

Understanding these rules is essential for investors seeking to capitalize on the short-term rental loophole while maintaining compliance with tax regulations.

See Vacant Building Ordinance and registration form at https://ipiweb.cityofchicago.org/VBRCN193029Maintain watchman from 4:00 PM to 8:00 AM for vacant and dangerous residential premises. (13-12-140)CN193019Repair or wreck dangerous and vacant residential premises. (13-8-100, 13-12-125, 13-12-130)CN193000Maintain building in safe condition so it does not constitute actual and imminent danger to public. (13-12-130, 13-8-100, 13-12-120, 13-12-125, 65 ILCS 5/11-31-1) Maintain building windows and doors in safe condition. (13-196-550) Maintain stairway and porch in safe condition. (13-196-570) Maintain floors, walls, and ceilings in safe condition. (13-196-540) Maintain building in safe condition.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

If they are financing the purchase with hard money loans, they would need to acquire the property at 70% to 75% of the ARV minus repair costs to maintain that profit margin.