Increased investment and job creation in some sectors indicate economic progress, however, the long-term sustainability of these efforts remains uncertain. 

Best to seek counsel from your attorney and tax professional but if you are going to insist on saving a few dollars, best to provide more specifics on the type of partnership you are contemplating so you can get your hands on something that's remotely relevant. 

Keep an eye out for indicators of population increase or steady housing demand.The BRRRR approach may be appropriate for older properties, particularly if they require renovations.

I see lots of posts about trying to do this as a way of circumventing taxes, but nothing about doing it as a way to increase W-2 income.

Hi all - I am also seeking the 2023 Chicago Association of Realtors Lease Agreement if someone would not minding sharing.Thank you advance!

While this is great for the environment, typically homebuyers will not want to pay for that increase. 

In the US, many people use a 5-6 year rule:  if you can recoup the costs of renovations in 5 years (through increased rents) then it's worth it. 

My initial intent was to sell the property to another investor to increase my capital and invest that into other projects, but I have changed my mind and want to use it as a rental.

Will increase cash flow much more.

Maybe do a tandem approach and depending on your location and price points etc.Nurses mostly get a daily stipend to spend on housing [some have the employing agency pay for the housing] what I found is that even though on average nurses get up to about $180 per day in daily rental stipend - they do not seek out to spend that much and look for cheaper housing - the kicker is it seems that they get to keep the difference of what they do not spend on rent and pocket the difference.So I put my lisitings on Airbnb sometimes as weekly, mostly on as 30 day rental [to keep in compliance with various city, HOA and local laws.So lots of different strategies to go and to keep your options open for all sorts of travelers  that we can not even think of, so expand your criteria.