If so then here is the cash flow:$14,940 :Annual Rent- $1494 :Vacancy @ 10%$13,446: Gross Income- $1,345: Repairs at 10%- $2,110: Taxes- $1,163: Insurance- $ 336: Utilities @ 2.5% (Covered for vacancy)- $4,953: Total Expenses$ 8,493: Net Operating Income- $8789: Mortgage Payment of $732.38 x 12 Months- $ 296: Before Tax Cash Flow.It is going to cost you $25 out of pocket every month to own this property - that is if everything goes well.

If your home doesn't qualify for the home office deduction because it does not meet the 100% exclusively for business test, why can't it still be the base of operations for your business?

If the landlord is paying any of the utilities then, imo, you really want to analyze your numbers and net operating income as heating bills in IL might be a whopper.And why so long to close?

This is similar to flipping businesses in USA having their operations taxed as corporations.

Do you think it's sufficient that the management company "signed off" on the operation of the smoke detectors, or should I have the management company go back and have each tenant sign something stating that the detectors are in good working order?

Virtually all Bank contract will have the same.

Do you think it's sufficient that the management company "signed off" on the operation of the smoke detectors, or should I have the management company go back and have each tenant sign something stating that the detectors are in good working order?

I currently own/ operate 23 units, over 7 buildings.

It's the beliefs of the Catholic Church and other faith based organizations, that are vehemently opposed to abortion and birth control, and have hospitals that are operated as non profit organizations, and should not have to sacrifice their beliefs in order to comply with the healthcare bill.

cbre, colliers, jones lang lasalle, cushman and wakefield huge companies core buisness is real estate , own and operate , lend lease , you name it they control a lot but the number 1 is cbre they control so much more than their nearest competitors