There are many syndicators that had built a reputation for having executed business plans, very communicative, and accountable.  

Unless you plan to sell your home soon, cash out refi it.  

CO landlords can still evict for all of the common grounds for eviction: nonpayment of rent, violation of lease terms, damage to property, disturbing the peace, health and safety violations, illegal activities etc. and can also still evict if they plan to conduct repairs or renovations, property demo or conversion, move in to the unit themselves or have a family member move in, withdraw the property from the rental market, or if the tenant refuses to sign a new lease with reasonable terms. 

I plan on renting to Section 8 tenants, and actually, find the allowance for heat for Section 8 to be pretty accurate for the "normal" building. 

I asked what her plan was. 

I've dabbled in the new construction space here in Chicago and there is A LOT that goes into it...I'd highly suggest spending some 1:1 time networking with some other investors like @Jennie Berger or @Prashanth Mahakali who are both Chicago developersYou make your money with the land purchase and then systems/processes/volume over time in the development game, but it's not easy and competition is high!

If you plan on doing a lot of renos, I wouldn't bother cleaning after he leaves because your renos are going to make a mess anyhow.

Planning a trip down there in May/June.

The HELOC was the original plan, but it was going to take too long to close so we did this instead.My 403b has a value of roughly 85k and has a remaining loan balance of about 22k… about $700 per monthMy husband’s 457 has a value of roughly 180k and has a remaining loan balance of about 30k… about $850 per monthSince the HELOC is a variable rate, I’m hesitant to use a large amount from that.

Quote from @Dayton Bourassa: First, the spreadsheet looks nice.Second, I don't see anything planned for ongoing maintenance or capex.