One thing to consider, especially on your first purchase is any repairs that are needed on the unit in light of what an insurance company might think.

This includes, but is not limited to: - painting - affixing wallpaper; - changing bathroom or kitchen fixtures; - installation of electrical outlets, computer network cabling; cabling for television service; installation of a satellite dish for internet or television service; - changing of light fixtures;3.Tenants must not crack fill or fill any holes during their tenancy.

I'm in Chicago and am going to replace all the outlets, switches, covers and light fixtures in a rental propery I'm remodeling.

We got this house for the low-20s and a similar house is currently listed in the low-80s.Flippers are taxed like any other inventory-carrying business, so really we're not that different from, say, a used car lot that does light work on the vehicles.

So especially in light of the taxicab case and our poorly written law, I would still consider clumping low equity units together in one LLC with good liability insurance, then establishing separate LLCs for high equity and high dollar units.

You use to have to settle for incandescent lighting and CRT picture tubes.

I believe this is for non rentals but I would think it would apply to rentals, Hopefully one of the tax gurus in this forum will be able to shed more light on this.

out of the 204k 37k were building permits. 3 k for plans and other light soft costs 4500 bank fee's and interest..

).Based on these answers I would modify the apartments for safety if necessary, lighting , locks , window guard, etc.

I am no expert in this area but I heard someone recently call it a Fidelity Bond.Chris might be able to shed some light.