IF you were to renovate a non-conforming unit, that unit would now need to be brought up to code.When or if you rent out the unit, you, of course, run the risk of the tenant calling the city and saying the property isn't up to code, which would, in turn, cause an inspection by the city and likely result in some violations that would require you to bring the unit up to code.These types of units are ALL OVER the city of Chicago and be rented out on a daily basis, but there is still clear risk associated with renting them out.

My other question is that the listing agreement states that we are not allowed to sell to any client that he brought to us during the listing period or he will be owed commission.

And I do not know if he currently has a property manager, but it will definitely be something that gets brought up.

I am open to meeting new and inspiring investors every day, and I am grateful for the opportunities real estate investing has brought me over the years.

It's interesting that you brought it up.

The median sale price increased month over month breaking the trend of decreasing median sale price the past two months.The rental market continued to moderate in Q3 2024 thanks in part to the increase in units being built. 1,815 units were completed in the year ending with Q3 2024 with 1,447 expected to be completed in the next four quarters.These new units brought online in the past year increased the overall inventory by 3.4%, however by Q3 2025 we anticipate demand to outpace supply by over 550 units.With this increase in units over the past year we have seen the occupancy rate moderate at 95.8%, down from the high of 98.9% in 2022.

I see the HUDS closing cost just to get the loans many times are 5 k to 15k so if those cost were brought down by say 70% and everything being equal that will allow these first time buyers or buyers for owner occ an easier time buying.  

But the entire time properties are being brought current and coming off the list of available properties. 

This property was originally a fixer-upper that I finally brought to a point where it is in good condition, has good tenants and good, predictable cash-flow.

(worldnewsera.com“Most of my disdain is reserved for the big players who are marketing this to a mainstream audience as though it’s an investment, often promising to be a ticket out of a really tough financial spot for people who don’t have many options,” White said.