The buyers are FHA-qualified, and I mentioned the option of switching to conventional, but they prefer not to.

As someone else mentioned, insurance here is generally less costly than in Florida and other beach markets. 

Someone mentioned wanting to be within driving distance of a property, but I actually prefer not to be close.

Your property management rate should be higher—there aren’t many options in the Metro East, and the good ones tend to be expensive.You mentioned that he’s already okay with you removing the tenant or adjusting rent if needed.

At appraisal it was worth $500K and it is in a neighborhood where homes that are on a third the size of the lot are going for $800K.What's the best way to get a loan, about $150K, to rehab his house and get it ready to sell. as mentioned, I recommend getting a loan to rehab the property.

The last tip, I would also see about the first option above I mentioned and add in staging if you do not have it. 

Here are some trends that could play out, or further develop in 2025.Leasing & Tenant Experience AI-Powered Leasing: Chatbots and AI tools will streamline leasing processes, from answering tenant inquiries to scheduling tours.Virtual Tours & Digital Leasing: These will become even more standard, making it easier for tenants to rent remotely.TechnologySmart Property Management: IoT devices (smart locks, thermostats, etc.) will become more common, improving efficiency and tenant satisfaction.Property Management Software: Platforms will integrate more AI for predictive maintenance, rent collection, and financial reporting.SustainabilityGreen building practices and energy-efficient upgrades will be a major focus, driven by tenant demand and potential incentives.AI & AutomationAI will play a bigger role in tenant screening, rent pricing optimization, and even predicting market trends.Automation will handle repetitive tasks like maintenance requests and lease renewals, freeing up PMs for higher-level activities.I'm sure there are plenty more shifting trends that I haven't mentioned and that are sure to evolve over the next year. 

As mentioned above by @Jay Hinrichs on Sewer leach fields. 

Plus, very important to understand the new layout and how the dig down will effect the existing stairs, plumbing, etc.Happy to connect and talk through your specific situation because @Bruce Woodruff mentioned every project is different and know one price fits all espeically with these complex jobs.Where at in Chicago is your building?

That level of being locked in like that, that's been the number 1 indicator I have seen working with all the people I previously mentioned of who is gonna make it, and who's gonna flame out.