Investment Info:

Small multi-family (2-4 units) wholesale investment in Chicago.

Purchase price: $325,000

Cash invested: $1,000

Sale price: $405,000

Brought to me by a Realtor as an off market de...

Bring them down to a flat suface the easiest way possible and install LVP.

This closing occurred in the midst of the CV-19 crises and Busey could have used this as a premise to change our terms or pull out altogether.

I would skip charging the monthly increase to the rent as that effectively changes the lease altogether and could be seen as a demand for a rent increase.Require and obtain all pets vaccination records and licenses as well as the name and phone number of the vet.Require Renter's Insurance with Landlord as Additionally Insured coverage - that covers pets so that if anyone is bitten or damage is sustained, you are held harmless and the tenant's policy kicks in for those damages.As long as you change nothing more than the conditions regarding the pets, it's pretty basic.  

Ideally, would like someone who can do everything for a reasonable flat price or package, barring any work out of the ordinary.Need help with drafting a purchase agreement, tease apart the NN lease and environmental studies, and facilitate closing etc.

It also is helpful to have a California LLC in case you ever sell that property and move into another state so that you do not need to form a new LLC altogether with new operating agreement, just re-register in the new state as a new foreign LLC.

Lots of people would stop paying altogether.

In Chicago, you can't put a STR in a 3-flat unless the unit is owner occupied.

But for those of us in the industry this has been coming for several years after many years of flat renewal rates.Unfortunately the current state of the economy will put further pressure on insurance carriers to make their money through rate increases (underwriting profit) versus investment income from bonds and interest rate returns.Solutions?

It's flat fee based, not based on percentage.