Nice floorplan and quiet cul de sac.

., and I still love Cook County because I have a solid team and underwrite deals properly.I think @Paul De Luca nailed it on the head, though - it seems like you are quite risk-adverse, so maybe given your risk tolerance, it's not the best idea, but if it were me, I would not think twice about it, and find a rock start property manager who knows exactly how to vet tenants.

In General:The statutory exception applies only to joint ventures (but not a separate entity) between spouses and also requires that Each spouse materially participate in the business of the joint venture and That both spouses elect disregarded entity (DE) treatment.QJV treatment is available to spouses in any jurisdiction (community law state or not) provided the requirements of the statute are satisfied.Regarding LLC: Non-community: LLC with husband and wife cannot elect to be taxed as qualified joint ventureCommunity State: Husband and wife LLCPer Rev.

Not that I plan to live in or even visit the US anytime soon, but I don't want to deal with winter-related issues like heating, de-winterizing a home etc. 

Upon information and belief, the member(s) of the Defendant have failed to observe any corporate formalities in that: a. b. c. d. e. f. g. 19.

It's like putting out a For Rent” sign in a quiet cul-de-sac and wondering where everyone is, right?

Or lastly you could 1031 into passive Delaware Statutory Trusts. 

You won't be forced to de-convert unless you have violations...eventually the city will start fining you.Very critical terms are non-conforming (no violations - grandfathered in) vs. illegal (violations)...

@Akil MitchellFrom my experience, when buying a property, it's crucial to assess local building codes, potential de-conversion costs, and permit requirements.

Quote from @Lexie De Stefano: I like this train of thought and think you should aim for option 3: conventional loan + lower downpayment (perhaps even lower than 10%).