@Anthony Sigala that "Rule" was created for mostly Class B properties BEFORE the Great RE Crash of 2008-2010.Values after the Crash dropped so much, that it could also be used for Class A rentals.Values are now more than their pre-crash highs, so the rule now only applies to Class B & C rentals.How are you identifying Class B & C submarkets in your area, so you can properly apply the rule to the right rentals?

Yes it does, needing to keep the books and properties seperate for proper Tax Reporting and any 1099s you may need to file can be costly.

If the Warranty Deed has been properly recorded, the court deems that, as "constructive notice".

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

Kalamaras, we were ready to close your file, we needed to change Title Companies as your Title Agency was refusing or could not add proper endorsements because of their Underwriting Insurance Carrier.  

I am orginally from Elgin, but living down in Logan Square area of Chicago proper!

The challenge is knowing how to scope out the renovations properly and understand your construction costs. 

Section 8 tenants can be fantastic renters if screened properly.

Our biggest problem is getting her out so we can do a proper rehab 60 days of dead dime waiting for her to vacate is not Ideal obviously. 

Sometimes, you need to be very specific and provide all the details to help them properly investigate.