you can use a DSCR loan if your DTI is too high for conventional. 

Highly suggest coming out to some of the local chicago IN-PERSON meetups! 

However, you can file Form 8832 (Entity Classification Election) to change the LLC’s status to a disregarded entity, provided you act promptly.If you don’t make the election, you’ll need to file Form 1065 by March 15, 2025, adding complexity but retaining the same tax benefits, such as deductions for depreciation and repairs.

We are asking the current tenants to leave as the property is not in optimal condition we like to have our rentals and we would like to fix it up to increase value and rents.

I firmly believe that thoughtful architecture isn't just about aesthetics; it's a strategic tool that can enhance property value, attract quality tenants, and optimize returns.

.⚠️ Financing Challenges: Hard money loans carry high interest rates that nibble into the bottom line.Unrealistic timelines: If you think you're going to be in and out in 60 days, you're sadly mistaken-most flips take longer than expected.Real Talk: Is Fix and Flip Still Worth It?

Typlcally, a lender is going to lend 75% - 90% of the Cost of the project (property price plus rehab cost (scope of work)) or 70% - 75% of the ARV (As Repaired (as completed) Value).

and the property had a private dwelling value appraisal much higher than the public property appraiser claims. 

Being a BP listener since 2011 and recent forum junky, I cant get enough of the value and connections I am making here organically! 

Can provide all the benefits from a cash flow and tax perspective.