Quote from @Theresa Harris: Talk to your lawyer.

Quote from @Theresa Harris: As long as you documented the damage and sent her the itemized list within the specified time, don't worry about it. 

Check out Dean Harris zip code breakdown on YouTube with crestcore real estate hour.

There's a lot of misconceptions about the benefits of LLC's because people don't take the time to research with credible sources.To lower your chances of an IRS audit or to improve your chances of surviving one, you should have separate accounts for business vs personal income & expenses.An LLC can be a great way to do this. 

-The lender will have their own more stringent property inspection before lending you the money-Although cap-rate is used to be comps, but the lender will stress test your property,if your property has 50% vacant, can you still survive the loan or not.- huge reserves eventually required.- for 5-10 apt,LLC or corp structure is a must.- you need to have a few years experience managing small MF (1-4)

Quote from @Theresa Harris: So he bought three lots-the one with his home and the ones on either side. 

Alright @Zorya Belanger, @Nick Vazquez, @Theresa Harris, and @Brad Jacobson, thank you so much for the advice!

The Illinois Dept of Revenue website states:  Veterans or surviving spouses of veterans with a service-connected disability of 70% or more will be exempt from paying property taxes on their primary residences (100% reduction in EAV, which is Equalized Assessed Value).  

Quote from @Theresa Harris: How much are you going to have to spend to buy 40+ units and get a $2.7K/month return? 

Remember 2 is one and one is none when it comes to survival.