It's nice to hear a different perspective. 

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

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.

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).  

At that point the unit becomes no longer tenable to rent from an owner perspective as it is actually COSTING me money to have someone live there.

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.

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.

It's a great framework to get started from a tactical perspective. 

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.

I am trying to learn and hear from other people with different perspectives for sure!