They have strict requirements.https://www.chicago.gov/city/en/depts/bacp/supp_info/sharedh... 

It is very strict.

Safely I believe you have to have a minimum of 10 units to sign up, and Waivo seems to be raising prices while simultaneously getting more and more strict on denying claims.

Hi Ropo, Are you looking to house hack or strictly investment?

They apparently have strict rules about what the owner company can be involved with. 

There will be a lot of proven people here who demonstrate that you can totally self manage an out of state property.It really will depend on you, the market, the property, and a few other factors some of which may be out of your control.I would not look at PM strictly as a cost, there are a lot of good local PM's who can add value to your property. 

Strictly that and nothing else, I'd say the Jomax area would be more valuable, but that doesn't make it a better investment.

They adhere to a strict code of ethics and are often members of national and local real estate associations.The Process:Property Listing: They list properties on local Multiple Listing Services (MLS), exposing them to a broad audience of potential buyers.Client Representation: Realtors represent either the buyer or the seller, guiding them through the transaction process, ensuring legal compliance, and striving for the best deal for their client.Commission-Based Earnings: They earn through commissions—predetermined percentages of the property’s selling price.Wholesalers: The Middle-MenReal estate wholesalers seek out off-market properties, secure them at significantly low prices, often through a signed contract with a seller, then "assign" or sell that contract to an end buyer for a higher price.The Process:Property Hunt: Wholesalers look for properties often not listed on MLS, sometimes requiring significant repairs or distressed sales.Under Contract: They negotiate directly with sellers and sign a purchase contract, with no intention of actually closing the deal themselves.Assignment of Contract: Wholesalers then sell this contract to an investor or end buyer at a markup, pocketing the difference as their profit.Divergence Creates TensionThis fundamental difference in operations sets the stage for conflict.

Are you renting out rooms in the house you live for extra cash or are you using it strictly for a rental property?

The one thing I can say is that if you go downtown to the city of Chicago, you can get to talk to someone which is quite helpful.I ended up getting my operator's license which actually wasn't as challenging as I thought it would be (I went downtown to get it), but didn't end up using it because our airbnb also got denied lol because it was in a "planned development area".I believe there were a lot of neighborhood complaints about airbnbs so that is why they are putting such strict stipulations around 1-4 unit builds.