I would also request a seller credit if you truly were unaware that the tenant was not current on rent.

My idea is to convert our attic into a studio as well, and then rent it out.

Just have 1 unit /condo in chicago loop, that is now available for renting.

Build to rent? 

Time to raise rents. 

The mayor challenge here is to accurately know and predict how much and the time it would take to renovate the units that are not rent-ready to bring occupancy to 95%.

It's been on the market for a while with no solid offers.I'm facing the decision of selling the property at break-even or potentially a loss, or renting it and waiting for a better market.

Located in a condo complex in north Tucson that includes two heated pools, hot tubs, a tennis court, and hiking trail.

I reached out to an architect that is familiar with the process & he said it could take up to 6 months.My advise to you as the buyer is that the purchase price should reflect the 6 months you'll have to wait to legally rent out both units.

Some HVAC companies will offer a service where they'll rent one out to you while you wait on parts.