True, converting a personal Schedule E to a partnership will indeed reduce your IRS audit chances, statistically speaking.

If you offer more than your MAO, you may not be able to sell the property to a cash buyer, your profit may be reduced, or you may not make any money on the deal.

Also lower your rent a bit ($1300) and reduce your deposit to $700. 

Learnt lesson not to fully depend on property manager and should have made decision faster by reducing rent .

Planned energy-efficient HVAC installations will replace outdated ceramic heaters, reducing tenant utility costs, lowering insurance premiums, and qualifying for utility reimbursement programs—a win-win for tenants and investors alike.Inflation HedgeReal estate is historically a strong hedge against inflation.

If you’re considering Section 8, some cities (like Detroit) have high demand, which can reduce vacancy risk.3.

Here's the City link for you to reference. https://www.chicago.gov/city/en/depts/doh/provdrs/homeowners...1) ADU regulations specifically exclude Short-Term Rentals so don't do it if the intention is to short-term rental. 2) The ceiling height oh 6'10" is almost guaranteed to trigger digging a basement if you want to formalize as an ADU unit, especially if that height is further reduced by pipes or HVAC. 3)Ingress/egress is an issue for renting, as is that any bedroom also will need two (ie operable window/doorway).

When this occurs, area incomes fall and cities reduce spending on police and schools.

@Parker BullardFrom my experience, house hacking is a great way to reduce housing costs by renting out part of a property, like a duplex or triplex.

During that time, you will have no vacancies and little maintenance costs, and the resident will provide the $$$ to reduce your principal.