Test results positive for Asbestos on walls, and ceiling in kitchen area, and flooring the glue bonding under old vynal tiles, which is covered by carpet den and hallway.

All 3 units are 2/1 designs with new stainless appliances, granite counters, wood grain tile floors, nice lighting, and all have nice private outdoor yards, and plenty of parking.  

The property is turn key, updated with laminate flooring, tile throughout, with new paint on the interior and exterior.   

@Todd Dexheimer, you'd better be knocking on wood when you say that:)I just did some cross sectioned analysis for a client based on income and appraisal taxation coupled with growth patterns.  

I experienced a 4 month vacancy in one unit, which obviously hurt my return, but never even came close to cash flow negative.I'm bullish on the long-term appreciation of that area over say, a 15-20 year timeline (which works for me given my age), because I understand the gentrification patterns in Chicago and I know there's no other direction for the money to go. 

I closed on my home, did most of the remodeling myself (took the "how to tile yourself" class at Home Depot, painted, etc) and lived there for 3 years until I was able to buy the next one. 

.- Additional subfloor (wood) and cement board (floor) $100- Shower cement board $75- Waterproofing Membrane (I like to do this) $150- Shower wall tile (80-90 SF) $150- Flooring tile (30-40 SF) $100- Tile setting and grout $75- Vanity with top and mirror (24" it looks) $250- Toilet, wax ring and feed line $100- Faucet, feed lines and trap $75- Trim $25- Accessories $40- Fan/light $150- Vanity Light $50- *Shower diverter valve with trim kit and plumber to install and help set tub/drain. $750- Screws, adhesives and fasteners (cement board screws, caulk, etc) $50- Paint $40- Miscellaneous $100TOTAL: $2530With all of that said these numbers would be my BASE run, and assuming I was spending my budget amount on each item.

I prefer wood, tile, and vinyl tiles, but i think carpet is more appealing in some areas.

If I was you I would tear out the carpet and replace it with laminate or tile if you are going to keep it as a rental. 

Good call Jack.On every forum I post on, when I go through the posting history of anyone I have an issue with, I find a pattern of this type of stuff....You're totally right.