I have no idea if such a law exists in Illinois and whether it applies to a 7 unit.The fact that you didn't deliver the $5,000 to him suggests that --- even if you had an oral contract --- it's too late to enforce it.

Take part or all her deposit as a re-rental or lease break fee (or don't depending on how hard it was to rerent).

Mortgage, insurance and taxes or all covered as well as management.

Hi Mindy, when you say "traditional mortgage"...do you mean FHA, conventional, commercial, or "all of the above"? 

Most or all people that they interview on the show truly have a genuine reason behind there success. 

Can she not rent out the home and "pay" your friend a large "manager fee but is saving some or all of it so Medicaid will not see and he quietly pays her back all or some of those "management fees" after Medicaide people check her capability to get help from them?

One, or all of the tenants? 

A 3-day cancellation notice, informing you of your right to cancel your contract if you signed the agreement in your home, or at a place other than at the contractor's office or business;All warranties on the owner's rights; A statement warning, in ten point bold type or larger, directly above the space provided for the signature, the following: DO NOT SIGN THIS CONTRACT IF THERE ARE ANY BLANK SPACES.Whether any lien or security interest is on the residence as a consequence of the contract.An enumeration of such other matters upon which the owner and contractor may lawfully agree.Any other provisions otherwise required by the applicable laws of the Commonwealth.A clause informing the owner about: any and all necessary construction-related permitsthat the contractor must obtain such permits.that owners who secure their own building permits or deal with unregistered contractors will not be eligible to access the Guaranty Fund.Acceleration of payment: No contract can contain an acceleration clause that would require any part or all of the balance not yet due to be declared due and payable because the contractor deems himself to be insecure.

Yes, there are good ones... but there are far more bad ones who either suck at managing time, customer service, funds, or all of this and then some.

or    'All I can get is crappy short-term adjustable rate commercial financing on my house because I own the house inside an LLC.'