Code pt. 1450, govern the business of real estate brokerage in Illinois.The Act, as amended, defines a real estate “broker” as an individual, partnership, limited liability company, corporation, or registered limited liability partnership other than a real estate salesperson or leasing agent who, whether in person or through any media or technology, for another and for compensation, or with intention or expectation of receiving compensation, either directly or indirectly:(1) Sells, exchanges, purchases, rents, or leases real estate.(2) Offers to sell, exchange, purchase, rent, or lease real estate.(3) Negotiates, offers, attempts, or agrees to negotiate the sale, exchange, purchase, rental, or leasing of real estate.(4) Lists, offers, attempts, or agrees to list real estate for sale, lease, or exchange.(5) Buys, sells, offers to buy or sell, or otherwise deals in options on real estate or improvements thereon.(6) Supervises the collection, offer, attempt, or agreement to collect rent for the use of real estate.(7) Advertises or represents himself or herself as being engaged in the business of buying, selling, exchanging, renting, or leasing real estate.(8) Assists or directs in procuring or referring of leads or prospects, intended to result in the sale, exchange, lease, or rental of real estate.(9) Assists or directs in the negotiation of any transaction intended to result in the sale, exchange, lease, or rental of real estate.(10) Opens real estate to the public for marketing purposes.(11) Sells, leases, or offers for sale or lease real estate at auction.

Do you have a signed document stating the tenant's intent to vacate?  

@Rob Beland- my intention is to open open a discussion where I do Q&A at designated time- I do have a full time job ;) but I love to help! 

Problem is, you don't know what you don't know, and having the best intentions doesn't always take of unforeseen effects on others from the actions taken in this business.

HLU CURRENT FOCUS: Type of Collateral: Office Buildings Apartment Buildings Shopping Centers Mixed Use Owner-Occupied Facilities Light Industrial Hotels/Motels Churches Gas Station/Convenience Store Vacant Properties (not land) Marinas Lending Parameters Overview: Loan Size:$1,000,000 to $50,000,000 Interest Rates: 11% - 13% LTV:Up to 75% on income producing properties CLTV:Up to 90% on income producing properties Origination Fee:3-8% taken at closing from the loan proceeds Loan Terms:1-3 years Cash Down:Borrower needs at least 10% cash into project (acquisitions) Letter Of Intent: If a prospective client meets our lending criteria, we will prepare a Letter Of Intent FREE of charge once we gain the following information: 1.Name and address of the borrower 2.Names and addresses of the principals of the borrower 3.A detailed description of the collateral including he entitlements (recent appraisal) HLU Lending Group, Santa Clarita, CA

I said all you have is air and oppertunity bit*# and your breathing up all the air!

Ohio actually specifies 24 hours (ORC 5321.4(8): “Except in the case of emergency or if it is impracticable to do so, give the tenant reasonable notice of the landlord's intent to enter and enter only at reasonable times.

No, you're still underwater and drowning if your intention was to have an asset that performs for you and pays for itself so you can have income forever from it later.

The fact that he is requesting this "fee" before being funded is an immediate RED FLAG.Pay him up front and you can kiss your money goodbye.Private lenders should understand your intention when taking on a project, and their role supplying the funds as well as receiving their interest payments.

I purchased this home 5 years back with the intention of completely remodeling it and moving in.