You are AT LEAST 10X more likely to do something personally to get yourself sued than your property is.

IF you were to renovate a non-conforming unit, that unit would now need to be brought up to code.When or if you rent out the unit, you, of course, run the risk of the tenant calling the city and saying the property isn't up to code, which would, in turn, cause an inspection by the city and likely result in some violations that would require you to bring the unit up to code.These types of units are ALL OVER the city of Chicago and be rented out on a daily basis, but there is still clear risk associated with renting them out.

I would like to use the home as collateral toward funding on a investment property.

The seller, who had inherited the home, wanted to sell and move in with her elderly father.

On the other hand, it could also mean there are lots of other desirable houses hitting the market, making older properties less desirable and/or lowering demand. 

Will landlords who are barely profitable as it is sell?

Thought I’d see if anyone here had anything they were wanting to sell....

I've lived through rehabs, flips, short sales and made lots of money on buying and selling real estate.

STR income will always be dependent on who I managing the property, how nice the finishes and furnishings are, and the actual location of a property within the given city.With my STR in Destin, numbers are more or less the same as last year, perhaps down just a hair. 

They took a $1.5 MM property and found in this property:- $250k worth of 15-yr property which is paved parking, fencing, landscaping etc.- $150k worth of 5/7-yr property which is appliances, cabinetry, carpets etc.This is pretty typical for a commercial property cost segregation, and I see nothing wrong with it.The problem is in the line above that, called "Selling price."