In my rental agreement (lawyer reviewed and approved) it specifically says no smoking or vaping within 20ft of the building and all butts must be left in a coffee can with sand in the bottom and one is already provided in the "smoking area".Explanations are given for allergies, health, and second hand smoke etc. etc.I've not had any issues yet.

I see the issue one of functionality of how is this really going to work.

That can cause all sorts of tax issues.

Chicago and it's suburbs are notorious for multifamily zoning and illegal units issues.

If money wasn’t an issue, we would buy rentals closer to home or back home in Florida which is where we ultimately want to settle down in.

The other thing that could be an issue is if the claim is still open.  

Hey Tom, Foreclosure will not be an issue if it is 4 years from discharge date on a conventional loan. 

In case you think that has slowed, the quarterly increase was $130 which is not quite as fast, but still way too fast.The issue is there are many reasons rents are increasing and raising rates does not help lower the rent increases. 

Between rates being higher and terms being shorter Helocs can also have issues when it comes to DTI and not having reserves. 

This is a property purchased via 1031 exchange, rented briefly, and depreciation has been taken for 3 years.Long term, it may be rented again or purchase something else via 1031.What would be the tax issues with restarting it as a rental in a few years?