This property was a foreclosure auction purchase, so minimal information was known.

Follow the step for the deposit-even if it is to send a registered letter to their last known address stating that the deposit was used for outstanding rent and whatever damages or cleaning was needed (itemize it). 

I imagined that to mean that a 1920 home with no renovations would cost more to insure than one updated to 2024 specifications.Is this something that is just "known" to flippers/renovators and I am just coming across it?

On the disclosure form, the seller had indicated “no” to any known damages.

My W2 works me until the night and doesn't pay me well or high enough. 

So any contacts, known meet ups, or especially advice for an initial purchase is greatly appreciated! 

I'm in South Loop near the Loop, lake, Grant Park, CTA, and a variety of hospitals / schools, so renting out the room on a mid-term basis (32+ days) for a premium was the best strategy for me.

I've done this with my properties because I'm well known in my small town and don't want people to know what I own.LEGAL PROTECTION: By placing your assets in an LLC, you are legally separating them from your personal assets.

Income approach Also known as the rental income approach, this method estimates the market value by analyzing the property's anticipated future income and converting it to a present value estimate.

It’s definitely exciting to see suburban Chicago getting recognition as a hot rental market—it’s something I’ve noticed in my own experience as well.