Another service we provide is called an "Either/Or" - EITHER the property is Lead-Free (no positive lead-paint components) OR there are positive lead-paint components identified but still safe/habitable lead levels to reside within said unit. 

@Matt Smith - as @Christopher S. mentioned you cannot use an ADU unit in Chicago as an AirBNB as the city's intent with the program is to provide additional affordable housing. 

A key risk is the due-on-sale clause, allowing the lender to demand full repayment, though enforcement varies.Keeping the property in an LLC provides liability protection, shielding personal assets from lawsuits.

What are some cities that might provide cash flow, but remain affordable?

An existing duplex provides immediate rental income and proven market comparables, reducing risk.

Contact the utility provider and get a historical average based on the last year of use.

The sale of our home will provide us with approximately $150,000 to allocate toward investments.At this stage, we feel most comfortable focusing on long-term rentals.

When I asked why this was caught earlier, she responded, "Based on the timelines you provided, we had a team fail including me...

If the cash-out refinance option isn’t providing enough liquidity, you could also consider a hard money loan, though these tend to come with higher interest rates and shorter terms.

Full Disclosure is Required for Non-Accredited InvestorsIf any non-accredited investors participate in your deal, you must provide them with detailed disclosure documents.The SEC states:“[The company] must give any non-accredited investors disclosure documents that generally contain the same type of information as provided in registered offerings.”This is where having a Private Placement Memorandum (PPM) and Subscription Agreement becomes absolutely necessary.A PPM outlines:✅ The risks of the investment✅ The structure of the deal✅ The terms and conditions✅ The use of fundsA Subscription Agreement ensures:✅ Investors acknowledge they understand the risks✅ They meet SEC requirements✅ They legally commit their capital🚨 Not providing these documents could leave you vulnerable to investor lawsuits.4.