Substance and item refers to: grease, cooking oil, any food products, toys, rags, paper towels, etc."

Also trimming any trees or vegetation. 

Property is in Chicago/Cook county with legal city license.

I don’t want to run it as a bed n breakfast because I will not be living in the home nor cooking breakfast, but what are your thoughts on renting out by the room?

@Victor Delarosa I'd invest in greater Chicago but on the Indiana side to avoid the high Cook County taxes. 

HSBC can help you get checking accounts setup in almost any country.We are taxed on our world wide income in the US, but that’s not that big of deal, as we have treaties with other counties to help avoid double tax, and you can always setup up IBC in Cook Island, or St Kitts & Nevis, thus off shoring the income earned outside of the US, if you bring it home you will have to pay taxes on it.

I agree with @Joe Villeneuve,He's an Architect, and knows his stuff.I also did a mockup for a Class B SFH.Pushed out a wall, cut a doorway, boxed in the water heater (check local building codes re this), added pantry cabinets (at the expense of counter space (not everyone is full on cooking 3 squares a day, with the readiness of microwave and ready to heat oven foods.) 

On the flip side though with gas if electrical goes out they still have a way to cook but this still isn’t enough of a pro to offset the worry.  

Contracts- junk cars, trash, porches and add ins, fences and vegetation, noise, age of home, contract length, etc3.  

You also want to make sure the kitchen is larger so more than one person can be cooking at a time.