@Romina Hernandez I would recommend talking to an RMLO to stay compliant with Dodd-Frank etc.

Yes rental properties gave to be compliant and get Certificate of Occupancy, but as far as the Housing Choice Voucher program ,you say you are hour facility has not been qualified but what if they tell you the process starts by you signing their moving papers, it doesn't matter about prior participation.

I would check the RLTO on the first item, that may not be allowed in Chicago.The refusing entry is addressed in the RLTO and the summary has to be included with every lease.If you are owner occupied under 6 units you are exempt from the RLTO but I always suggest every landlord use a RLTO compliant lease like the 35 page CAR one that includes everything you need

Section 8 compliant housing.

I am wondering if a landlord of a 3500sq/ft, 4unit, section 8 compliant property can program the furnace thermostat to a specific temp (say, 70 degrees) and tenants wouldn't be able to run the bill up?

This is a section 8 compliant home so I don't really was mess with the rents too much, at least til I get feel for landlording and what kind of tenants are currently there.

The most efficiently do this is to outsource that vital task to a consumer reporting agency (CRA) that specializes in background checks and here is why:  A CRA must conduct Fair Credit Reporting Act (FCRA) compliant background checks.

It is a pain in the *** and it takes some time and some money to get compliant, but doing so is far cheaper than getting caught at being non compliant.

Our main concern is continuing to be compliant and being proactive versus reactive.

Consider this too, even if this loan is DF compliant with the balloon, if you buy this and the borrower can't make the balloon do you really want to be the one to throw them out of their home because someone made them a predatory loan?