Just curious on possible strategies or suggestions from anybody currently thats an agent in the Central Illinois or Chicago area.

I always advise to run a business for 3-6 months without an entity to see if it something you are making money in and something you want to continue doing.Once you have 3-6 months of activity, you have more information to provide to an accountant regarding income so he can provide suggestions on entity type.Best of luck

Hi Stephen, I would suggest reading as much as you can and connecting with people in the industry.

The longer it stays in the same taxpayer name before changing it, the better.I would also suggest you speak to your CPA before making any decisions.

Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).

Wondering if you have advice on me just being the bank, where I purchase a house and structure a rent to own with him and have him build up a 30% cash down payment and some equity and then me sell the house to him at a locked in price.  

It wasn’t on the lease, and it was starting to rot, posing a safety hazard.We knew tearing it down would cause an uproar, so instead, I suggested something a bit unconventional.

The only other question I would suggest is that you do engage a property management company to review your quad and review your monthly financials.

Unless the medical condition meets the state criteria for early termination and that the medical notice does not appear to suggest that, you cannot terminate the lease outright/immediately but that you will begin to market the property for rental and upon securing an acceptable tenant, the lease can be terminated pending a satisfactory property walkthrough indicating no damages. 

I’d suggest beginning by connecting with an agent who specializes in multi-family properties.