I'm correcting the misinformation you are posting and trying to get further clarification on what you are posting.

Converting your condo into an investment property and transferring it into an LLC is a smart move for liability protection.You’re correct that retitling the property involves Chicago’s transfer tax, which can be substantial.

Not sure whether the calculation is correct.

Make sure the exterior of your property looks inviting and well-maintained.

I believe that the technically correct answer is that they all moved from California to Texas and Florida, whereupon they realized that it gets extremely hot and humid in those places, has extremely variable weather, and large insects, and are now leaving Texas and Florida. 

You are correct, it is common for DSCR lenders to require the borrower to be a business entity in Florida, and some other states sprinkled across the US.

Do not trust what a realtor tells you to be correct. 

You are correct by saying that you have missed opportunities by being too cautious.

Sadly Martin is correct.

Your property is fairly destruction proof, costs near nothing to maintain, yet you can charge above market rents.If your property is nicer (class B) where the carpet alone might be $6k or more to replace when the tenant spills hair dye everywhere, you won't be as happy as in the situation above.