You would need to word the life estate carefully so that you would be sure to get the use of the accessory dwelling and the income. 

I like the idea of buying a house in the Chicago suburbs and building an accessory dwelling unit (ADU) or junior ADU on the property to live in while renting the house out.

Basements in the SW suburbs are very coveted and you definitely made the right call by spending there and having all the major mechanical systems replaced.

Just wondering if any of u bought a accessory dwelling units from modal?

From this site:"How to Go Tax-Free on Capital GainsThere is in fact a way to get that coveted zero percent tax rate on long-term capital gains.

They don't realize that they can buy all the furniture and accessories they would need for a typical 3/2 house with about 1800 square feet for less than $3000 (if they're good shoppers).

I would also remove a lot of the accessories, pillows, and wall decorations.

I really look forward to networking with the experts that have "been there and done that" and will covet any recommendations and advice from the members of the forum!

Things are just expensive when you move to a "better" part of town, and even more expensive when you move to a coveted neighborhood.At the end of the day, it's about knowing the neighborhood of your property.

Menlo Park, California: The highly coveted street, ‘Sand Hill Road,’ has a 1 mile stretch with over 20 VC firms.