It’s often the blind leading the blind with your money at risk, not that of your borrower.This post contains a list of many of the documents needed for a private loan.

@Terrell Garren I agree 100% I'm so done with backer board and ceramic tile I can't stand it...

You had mentioned that 60% + of the neighboting lots are currently multi-unit buildings, which is very helpful information.In accordance with the Chicago Zoning Ordinance 17-2-0303-B: "In the RS3 district the minimum lot area per dwelling unit may be reduced to 1,500 square feet when 60% or more of the zoning lots fronting on the same side of the street between the two nearest intersecting streets have been lawfully improved with buildings containing more than one dwelling unit.

Smell and stain.I have even seen people power wash the inside,  Just be careful that the water doesn't damage everything.Behr paint has a new product that is about $90 for a five gallon container  . 

Tenant agrees to maintain all refuse/debris/etc in appropriate waste receptacles and/or recycle containers.

I think you were going for things tenants see: If kitchen/batch need a facelift, I remove and install durablefinishes: ceramic tile, backsplash, etc.

If they have a cat, dog, pig, iguana, guinea pig, monkey, large turtle, or other pet that cannot be contained to a cage or tank  I would look at your flooring type and require additional deposit solely for that. 

BTW new updates in addition to what I mentioned in that post, a new shipping container boutique hotel is being built called Wander Hotel / another trendy new restaurant is coming in from Landers, they bought out the building of an old Chinese restaurant.

The property manager says the fire was contained to the kitchen and the contractor says they can repair it for $60,000.What did that contractor just tell you?  

They never go and take the full risk of starting a business, and just ride on some other co's name to make a living.And please, please DO not start a Facebook real estate page with a name containing 'pro', 'elite', 'masters' ect.