I was reading up about it, and saw that the cons of oil heating include needing to top up the oil supply, lower efficiency (than gas and electric), and potential leaking of tanks leading to environmental issues.Is anyone familiar with oil heated homes?

The next gentrifying neighborhoods in Chicago are: Lower West Side; Humboldt Park, Gage Park, Ashburn, South deering, Hegewisch, Garfield Ridge & West Elsdon.  

Currently, interest rates, taxes, and insurance are very high, making it difficult to cashflow with downpayments that are below 40%.

@Armell MayersBigger Pockets is a great place to find a real estate tax accountant.

I am confused, how there are options available today that does not comply with city rules (ceiling lower than 7ft)?

Is the higher price agent inflating to get the listing or is the lower price agent just not keyed in well enough in the specific neighborhood?

Then they lowered the price to $340,000, a step in the right direction, but not as big a step that I liked. 

Taxes: Be aware of potential transfer or capital gains taxes, depending on your state.4.

Have any idea about Gift tax in NY?

You need to have the income and tax liability to support the depreciation.