We've gone through the Site Plan Approval process with the City, have officially split the lot into three parcels, and are expecting to receive our building permits this week (yay!).

BTW, do you have an official Collections Policy in place?

It could mean they don't have any deals that have gone full cycle, so they don't have any official returns to boast or it could be more nefarious reasons.

However, he did not include a listing cancellation form or a release. so I replied to his email, copying the head office to it, asking if he is going to send me an official listing cancellation and no one has replied to my message. 

However now that my closing date was officially around the corner the underwriter began doing their thing and came back with a past tax bill that needed to be paid before closing and that was it.

For sure you would "technically" need to pull permits for something like that...but this is likely a case where doing that work isn't going to alarm any neighbors or city officials...Being that it's inside your unit and an enclosed porch.Sam is great and so is @Prashanth Mahakali as far as local Chicago architects go.

I noticed the same thing in my loan docs and am curious what the official answer is.

The Packwood, WA market may be officially saturated on STR's.

I contacted a title company to officially record the sale, but they are requiring 3 separate closings (and tons of extra fees) because there will be 3 liens/private mortgages recorded (one is the original mortgage that I want to reassign since the interest rate was very low; the second will be held by my son to my daughter for his portion of the equity in the home; and the third is the difference which will be between my daughter and my other LLC). 

So while the rents should be getting $1100-$1200, if you submitted it cash flowing at $1200, but the rents come in "officially" at $900, then that is a HUGE difference in annualized return and likely the source of the leverage drop.