Your insurance company will probably seek damages from whoever they can rightly go after.Going forward, do not rent to smokers, they are not a protected class.  

This kind of falls in line with what Stephen Cook practices (any comments on his books and materials?).

Also in what makes a perfect tenant i didn't say anything about pets, smokers and credit score.So some thinking here.  

If you take a security deposit in Chicago, specifically cook country, it needs to be in an interest-bearing account and interest paid back to tenants, which is why most Chicago landlords just do a non-refundable move-in fee that can be up to 49% of one month's rent.

I don’t have pictures, but imagine six people who are all smokers and drug users, and horders living in 1000 square feet for 50 years.

I know Cook County has one this summer, but their bizarre bond requirements, insane taxes, Chicago RLTO obligations and shootings make it too risky for me (Plus the foreclosure process takes an extra 6-9 months).  

Hi @Liam Cook, and welcome to BP.  

@Julie Cook, probably, it largely depends on how accurate the "appraised property value" is.

I love to cook and bake and drink really good coffee.

@Brie Schmidtunderstood...I was just checking the cook county property tax portal and it shows  Property Class Description Apartment building with 2 to 6 units, any ageWasn't sure if that means building is zoned as max 6 units...I will ask for the zoning certificate from seller..Thanks!