Before signing a lease agreement, conducting a thorough screening process can help mitigate potential risks and ensure you're selecting reliable tenants.

Engaging with tenants to understand their needs and preferences can help in tailoring services and amenities, thus enhancing their satisfaction and loyalty.Key Takeaways:Implement tenant engagement programs to build community and loyalty.Regularly review and update lease agreements to reflect current market conditions and tenant expectations.Diversification of Investment PortfolioDiversification across different types of CRE, geographical areas, and tenant industries can mitigate risks associated with market fluctuations.

Additionally, you may want to consider hiring a local expert moving forward to help mitigate these issues.

There is both great cash flow and appreciation markets within ChicagoNow with all that said Chicago FOR SURE has it's challenges, but I have found personally that if I lean on #1, my network, that a lot of those high risks go away or can at least be mitigated.

This way it mitigates any timing risk due to the 45 ID period deadlines.

Not that it's "not allowed" but rather it will mitigate a lot of confusion. 

What else would you do to mitigate the risk of environmental contamination that would cost more than the land is worth.Note that I am not concerned about minor contaminations that can be fixed for under $25,000.

Sounds like you (or prior owners) failed to mitigate damage by allowing this to occur over a long period of time.

The restriction on rentals that they put up for a vote would have been steep and abrupt: no grandfathering current owners, no gradual phase-in, nothing to mitigate what would have been a great deal of forced investment-home sales in what would have been fairly brief period of time.

Properties that can be quickly renovated and put back on the market are likely to capture this existing demand.28305 though experiencing a slight decline in inventory, saw an increase in sales, particularly in larger homes, suggesting that despite lower availability, demand remains robust.Potential Saturation Challenges: Despite a surge in single-family home permits, areas like 28303 and 28304 may grapple with market saturation, necessitating strategic flipping approaches to navigate fluctuations in supply and demand.Recommendations:Emphasize nimble, smaller-scale flips in areas like 28303 and 28304 to mitigate risks associated with potential market saturation.Average Sale TimeZipApr 2023Apr 2024CHANGE2830156 Days30 Days-47.00%2830361 Days33 Days-45.80%2830450 Days17 Days-64.80%2830576 Days39 Days-48.30%2830672 Days30 Days-57.70%2831169 Days34 Days-49.90%28312124 Days51 Days-58.80%2831451 Days23 Days-55.00%28303: Focus on 2 to 3-bedroom houses, as these are currently experiencing robust growth in sales prices and demand.