Chicago's Residential Landlord and Tenant Ordinance (RLTO) and building codes require that all rental units meet zoning, health, and safety standards.

For that extra psychological safety of handling a that multi-M upscale luxury property transaction maybe worth it, but that's not your market. 

Depending on your hazards it could be as painless as a grand or two or we've done $40k+ lead reno jobs on properties with tons of hazards.

maybe the answer is some sort of Hunters safety course we all took as kids before we got our first guns.. you have a investor safety program that is not a guru LOL..

If I were to hazard a guess, would be lucky to get 1 in 20 bids accepted. 

It’s a very small asset class right now for any feeling of safety.

If it sounds too good to be true, then make sure that you take the necessary steps to ensure your own safety.

I'd be in one heck of a situation if I had all of my units go vacant for a month or two, and expect to have that money to pay expenses...and no safety net.However, what if you could take your side of the equity and find your feet. 

I believe the safety is solid for my wife and me; in fact, we are about to start having children here.

Cosmetic repairs that don’t pose health or safety concerns are typically optional.Then be very transparent and communicate thoroughly to the tenant, as to provide a professional explanation for your decision forward.