Remember, no system is perfect, so avoid the temptation of constantly chasing after the next shiny object.

To some capital, as long as the product is not traditional vertical, apartment-style product then it is still build for rent.The biggest evolution I have seen in Build for rent recently is the transition to multi-parcel and for sale/for rent hybrid developments which is contrary to what was more standard in build for rent 5 years ago---traditional single parcel developments for density and tax purposes.

This does not include any tax prep.

Your “rent” is going to be the landlord’s principle, plus taxes, plus insurance, plus their mortgage interest, plus profit.

This way you wouldn't need to provide paystubs, W-2s, tax returns etc. 

If your LLC earns a profit on fees it earns from property management you will owe self-employment tax.

I've always thought Chicago had outrageous property taxes.

Can you take the small profit which may qualify as "tax free" and invest in properties on the mainland, or in a retirement account.

The same in Vegas Nevada has the 4th lowest property taxes that do not assess on the sale of the property, very different than CA. 

We feel very confident in our underwriting, but given the jump that we made from SFH to an apartment building, we want to ensure we're not missing steps in our DD/inspection plan.Here's our current plan:1) Have a general inspector complete a Property Condition Assessment.2) Have specialists complete an evaluation of the roof, electrical, foundation, and heat source (2 steam boilers).3) Review financials, all leases, existing service contracts, rent roll, tax assessment, rental certificate, and 12 months of work orders.Here's what I'm not sure about:1) Are there DD items (specifically those that we would request from the seller) that are not captured within #3 above that we should be requesting?