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.

I have not started looking in those markets yet, but based on everyone's great input on here I definitely will now. 

I definitely want to use the platform properly and not annoy others.

Review Form 1065 yourself and decide whether you want to tackle it.The real dilemma here is that hiring a tax pro will definitely cost you, while it is unlikely to save you much (if anything).

Pro rata is the best but it’s definitely not the fairest and it causes the tenants to be upset, for good reason. 

Are you wondering more about the financials of it or operations? 

Oh....you can also pay off the mortgage even faster with your ample income or soon to be ample income.  3-5 year payoff time is definitely possible. 

I would definitely speak with an attorney before selling/disposing of the property prior to the court addressing the joint assets - you could easily open a can of worms.

Hi Mike-Congratulations on being a first time investor and you are wondering when to start using a property manager.The property manager is probably the most important person on you team.

I continue to wonder why Fair Housing has a provision for ESA which are not trained, certified service animals.