We don't believe they are stealing, but their negligence has cost us a lot of money.* Is this enough to file suit in small claims court? 

Over estimate the costs and not need them?

A simple explanation might be that rents have increased to offset higher mortgage costs, but what about property owners who locked in rates below 4%—or even 3%?

You have to put 5% down vs 3.5% down, rates are usually higher, but if you have strong credit, your PMI cost can be cheaper than that of FHA loans. 

You are only adding complications and costs with the LLC with no upside  This is all assuming there’s been almost zero appreciation and you shouldn’t sell tax free while you have the chance. 

Happy to chat...being a local GC takes out a lot of the risk of the biggest variable for most investors (unpredictable rehab costs) and also allows you to consider more options than the average investor, with your rehab costs being significantly lower.

Costs before that (during remodeling) are added to the basis.2.

Evaluate Property ConditionOlder Chicago buildings often have charm—but may come with hidden costs.

Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.

@Yooni Choi managing from out of state (OOS) with ZERO previous landlord experience - probably won't go well.You WILL make a lot of mistakes that will cost you money.