Any reference herein to time periods of less than six days shall in the computation thereof, exclude Saturdays, Sundays and legal holidays, and any time period provided for herein which shall end on a Saturday, Sunday or legal holiday shall extend to 5:00 p.m. of the next business day.

Fist list I did, did not exclude properties without houses so I fielded several call that I was not interested in following up with.

The safe harbor is subject to the Ten Year Rule (expected to perform the maintenance more than once every ten years) and the No Betterments Rule which basically excludes large capital improvements that significantly extend the useful life of the property.There is a heck of a lot more to it, but in summary, keep your repair, maintenance, and capital improvement expenses in separate buckets and back each up with appropriate reasoning and documentation.

In some places I think courts prevent people on the same insurance policy from suing each other, and some insurance policies exclude two people on the same policy from suing each other.

However, they approach financial health from different angles.The 50% Rule is a quick estimate that suggests operating expenses (excluding mortgage principal and interest) will roughly equal 50% of the property's gross income.The DSCR is a more precise calculation (Net Operating Income / Total Debt Service) that determines if a property generates enough income to cover its debt obligations.Deal example:- Class C middle class neighborhood- 4bd / 2ba single family house- ARV: 190k- Purchase: 105k- Rehab: 35k- Market rent: $1,400-1,525- Section 8: $1,475- Property manager: 10%- Taxes: 125 month- Insurance $1250 yr- HOA: $55 month- purchased and rehabbed with all cash.

Here's the City link for you to reference. https://www.chicago.gov/city/en/depts/doh/provdrs/homeowners...1) ADU regulations specifically exclude Short-Term Rentals so don't do it if the intention is to short-term rental. 2) The ceiling height oh 6'10" is almost guaranteed to trigger digging a basement if you want to formalize as an ADU unit, especially if that height is further reduced by pipes or HVAC. 3)Ingress/egress is an issue for renting, as is that any bedroom also will need two (ie operable window/doorway).

Building a 4,000-square-foot, three-story duplex with a 1,000-square-foot ADU could cost about $1.83 million, including construction and permits (excluding land).

If you have $100,000 of equity, you may be able to get a quad somewhere in the country assuming you put down $100,000.If you lived in the house for 2 out of the last 5 years, you may be able to exclude up to $500,000 of the gain from sale.

@GregJJunge,All the zips you mentioned are among the more preferrable zips, excluding 06, 08, 09,19 and 54.

Using 50% rule (expenses excluding P&i is 50% of rent) here are the numbers;1800 (rent) - $900 (expenses) - 1468 (heloc) = negative $568/monthAt your rent point with that size unit, your expenses will ve less than depicted by the 50% rule, so let’s use a likely more accurate 40%1800 - 720 (expenses) - 1468 = negative $388/monthNow let’s imagine you self manage and you time is not worth anything (I strongly recommend believing your time is worth less or worth less than a quality PM would charge) with 8% further reduction so expenses are down to 32%1800 - 576 (expenses) - 1468 = negative $244/month.