Excessive complaints or three violations in three years could lead to losing the ability to operate​.Impact on Neighborhoods: Non-owner-occupied STRs (Type 2) may cause friction in residential neighborhoods, as they often function like businesses, which can disrupt the local community atmosphere.Recent Regulations (2024 Updates):1) STR operators must obtain a permit for either Type 1 or Type 2 properties, depending on whether the owner lives on-site.2) Platforms like Airbnb are required to remove any listings that lack a valid permit.3) New noise and occupancy regulations apply, with stricter enforcement through permit revocations and finesThese regulations are part of the city's efforts to balance the benefits of STRs with the preservation of neighborhood quality and local safety standards.4o

The search function here  will help you a lot.

Purchase price: $625,000 Sale price: $700,000 I’m excited to share my recent experience with a wholesale investment in a single-family residence located at 875 N Michigan Avenue, Chicago, IL 60611.After purchasing the property for $625,000, I focused on strategic renovations that enhanced its appeal and functionality.

Once you have a shortlist, sign up for an account with each one and test them extensively to see how they function.

Once you have a shortlist, sign up for an account with each one and test them extensively to see how they function.

They are pretty involved in making sure the property is updated and functional which ends up reducing the amount of $ offered, or if the property needs maintenance repairs Flock might not offer on it at all.

Cost efficiency while enhancing the design and functionality of the property What was the outcome?

Portland did this in their pearl district it was a defunct area with a bunch of old buildings that were functionally and economically obsolete ( probably like many city cores) but prime locations and all the infrastructure is already there..

How many properties do you have and what functionality are important to you?

@Kitty Walker- As an investor, I've refinanced multiple Padsplits and co-living properties (where we go direct to tenant without Padsplit), and I generally agree with your last statement, with some caveats:- if the renovation is done well, the appraiser may not even say anything that would indicate it is an "abnormal" SFR (has happened multiple times with me)-the investor may be wise not to make the house crazy- just leave a nice open living room, put double doors on the dining room so it can function as a bedroom now but be easy to convert later, etc.