Chicago (Cook and DuPage) has been getting crushed with property taxes due to poor government management.  

@Frankie Betancourt Buying a property as owner occupied and then renting out right way is mortgage fraud, a federal offence.

@Jason Holmquist @Keyoddie WalthallCourt house step auctions have nothing to do with real estate agents nor the local MLS.County/town/municipality governments and sheriff departments auction off properties.

"Inspection by a local government" is not one of those reasons.---------------------- snip -------------------------In its final ruling the Court of Appeals found that:The City needs the tenant’s consent to inspect the rental unit.

Not only do you have to deal with the rehab, you may have to deal with all kinds of government issues from permitting to zoning.  

This document will entail information such as how income/losses will be split, who will manage the partnership etc.The partnership will be required to file a federal form 1065 and possibly an Ohio 1140.The partnership will be required to distribute a K-1 to each partner which details each partner's share of income/losses. 

It's a federal tax credit.

So he would pay state taxes on the sale but would shelter all federal taxes.

Sued and demanded a refund of rent (her rent was paid by the government, so trying to double dip), and showed up with a "air quality test mold report".

Government dropping the ball?