It's important to understand the zoning/code requirements and obtain all necessary permitting if you intend on operating your real estate as STR anywhere in the country.

At the same time, someone else reduces your debt, and you get to use the tax code to improve your tax situation legally.  

If it is unclear as to whether you have met the standards of the Illinois Code, it is recommended you speak with an attorney for an explanation of Landlord/Tenant Law.

Do you assist with rental management in the 53206 zip code maybe around 16th /North?

I would also advise doing your own inspection of the property to make sure that everything that they say is being done is actually completed and to code and that there shouldn't be any surprise maintenance costs at the beginning.  

I target pre-existing, non-conforming lots that town assessors have deemed unbuildable either through a land use code or a very low tax assessment.  

Having a solid contractor who can give you bids helps for sureLessons Learned:I have had a couple of clients out of state not fly out and see their property in person & then be disappointed about some things after closingGeneral Tips:I'm sure you are well versed in the Dallas Fort Worth market but this is a nice little tool to have https://www.areavibes.com/ this website gives you a nice overview of streets and zip codes and a total livability score. 

Your main concern should be whether these bedrooms and bathrooms on the lower level are legal and have the proper egress require for fire code and livability.

An interesting company looks good an LLC I prefer stock in REITS will look into that further the domain grocapitus.com is registered at Tucows in Canada and a 415 area code for office that's consistent with a Tech company $75 k buy-in.

The property is in the 85712 or 85745 zip code.