An additional benefit of a detailed engineering-based Cost Segregation Study is that it can increase potential insurance premium savings as well as provides support for the property tax appeals process.

You have to weigh the risk of potential vacancy.

I don't know the numbers on your property, so I'll create a hypothetical:Assume your principal and interest on a $300k loan is $1,263.You're sitting on the potential to get $155k (tax free, btw), but the rate will be 7.5%, taking you're principal and interest to $2,100.Yes, it's $900/month more, but you have $155k of tax free money in the bank.

Are you going to run a full background check on these people or are you going to just risk your family with renting to a potential child molester or serial killer?

I don't know what the ten year appreciation rate will be, but I'm betting it will be insulated against any negative macro trends and positioned to outperform other markets, over the long term. 

I’m in search of existing investors or STR operators in Utica, IL, Ottawa, IL, and the nearby Starved Rock region for potential gatherings.

You can have an attorney draw up some kind of partnership agreement, but that also cuts your ROI and increases your expenses potentially for tax advise. 

It covers a wide range of topics including finding potential properties, financing deals, and managing tenants.

Multifamily homes often require more maintenance, so factor in potential repair costs when evaluating a property.

I really see Columbus Ohio as an extremely safe bet for the next 10-20 years.