Taxes : Taxes have been a brewing crisis nationwide for sometime, Chicago is another prime example of a major municipality struggling under high debt load.

How would this be accounted for for general accounting and taxes?  

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Your loan will be $1,100 a month, add insurance and property tax.

Make sure to account for property taxes, insurance, and any HOA fees, as those can vary significantly in different markets and impact your cash flow.

Great hosts will be good neighbors, will contribute to local tourism and will pay their taxes and permit fees* A major area to improve on the proposal is the 1 hour time-limit for resolving complaints.

I'll save you the details but...Per door cost: $63,300All in Cost: 700kTotal Revenue: 137k(ish) annuallyNOI: 65-73% (in the expenses we included: insurance, taxes, $75/month per door repair expense, management fee 8%, grass cutting, & a misc fund for random crap business license, etc.)Now...

>>For purposes of taxes, consult with a CPA to confirm this would work for your situation, but you could have the LLC be treated as a "disregarded entity" and thus, even if you and your wife are members, any profits/losses would "disregard" the LLC and go directly on your personal returns. 

Typically, the adjustments I see on appraisals for basements are more flat rate adjustments. 10k is usually the number I've seen.What stinks is that there are a couple of model types that have below grade space where the builder, I'm sure, was trying to lower the taxes by having it below grade so the county wouldn't count that space in the assessment.

I recommend that you look at Notice of Defaults, Vacants, Tax Liens or Probate.