I just wanted to share that taking the RE course, and now going through training at my new brokerage, I am learning so much vital information to the whole real estate transaction, and the industry as a whole.

In a small building, water and sewer are likely to be common, but if the water feed runs separately to each unit from the basement/mechanical room you have the option to sub-meter water in the future.2) Ample parking - unless you live in a large enough urban setting that a significant portion of your clientele do not have vehicles or are accustomed to not having parking. 

I talked with the same electrician and he'll finish up his portion.I got the AC guys info and will talk to them soon about finishing their portion. 

The prorated portion of February rent would then be paid to the seller upon collection.

Reg. 1.280A-1(c)(2), which excepts from the definition of dwelling unit any portion of a unit used exclusively as a hotel, motel, inn, or similar establishment, seems to apply to the situation where a part of the primary residence is rented out.

Population growth is stable in this portion of Chicago, and the rental demand is incredible.

My calculations were pretty basic.Avg house price $220300Avg house rent $1182 monthly Mtg on $176240 (220300 less 20% down at 3.92% fixed 30 rate) - $833 monthlyAvg appreciation on house 3.9% - $8591So if you subscribe to the 50% rule, $591 monthly would go to expenses, leaving $591 to pay the mtg of $833 resulting in a net outflow of $242 a month or $2904 annually.At this point your only return would be appreciation ($8591) less your net outflow ($2904) totaling $5687 which is 2.58% annual return on $220300.It's possible that you're not taking into account the financed portion or something of that nature...Where $5687 is 13% of your $44060 down payment.

Check to see what publications the city has that summarize portions of the building code.

Obtain quotes even for small portions of the work. 

This is coming from the financed portion of the project.