Chicagoans have always been “understanding” of creative building classifications and usually will not let it get in the way doing business.

If you’re self managing that will help with returns as long as you feel good about handling the tenant class. If

@Adam Thomas Welu the quality of turn-key companies can vary a lot, Here are some key things to look for.In general, the ones to avoid are the ones that: Don't allow financing or a finance contingency (it can be a good indication they are selling above market value) Don't allow for your own independent property inspection Are not realistic with their pro forma's (i.e. they don't include vacancy or maintenance projections or use unrealistically low vacancy factors) Require you to pay for any renovation upfront Sell only in cheap. low end neighborhoods Don't accurately represent the neighborhood/property classification Don't have consistent rehab standards for all properties Don't provide a scope of work for the property Can't provide references of repeat investors

This is dealer vs investor status.Note: Classification of gain as capital or ordinary is determined property-by-property, based on the statutory determination of whether the property is a capital asset or property held for sale to customers in the ordinary course of business.

It also depends on asset class. If

If short-term capital gain, the rates are the same but it will be reported differently.There are other considerations in your overall situation, including SE taxes, classification of the income streams, passive vs. non-passive and use of a corporation to name a few.

Only take advice from those in your net worth range and job classification.

I would really like the hard data broken down by property so I could calculate trendlines and regressions based on property classifications and features.Any help would be apprecaited!

We have a property under contract in Chicago. The property is classified by the county as a residential property. We had a hard money lender reject the loan because the area is classified as C-1 (commercial). How do d...

My risk tolerance is usually pretty decent, but given the stakes (of being unable to find alternative financing), I can’t seem to mentally let go of conventional lending options.The risks I anticipate are: 1) Credit score will drop with a lot of activity in a short time (though I don’t know how much), 2) The properties are pretty rural, so appraisals could be low or lenders may offer lower LTVs because of the rural classification, and 3) Sudden market shifts could make lenders skittish about vacation rentals, making it more difficult to secure non-conventional lending.My questions are: 1) How confident can I be that I will be able to secure a DSCR loan?