That's because $500,000 of the value is in the location and $500,000 is in the value of the physical property. 

I was able to raise the rent from $900 to $1450, granted this is extreme and not due to only the physical improvement.  

There are literally thousands of extremely smart analytical people that want to invest in RE but never can do it because they understand spreadsheets but don't understand the actual building and what it takes physically to run.

I moved up here with my wife so she could attend Physical Therapy school and we love the area. 

I would caution you that proximity to campus is not enough to indicate the property would be a good student rental, some of the closes areas to campuses are not always the hot areas for student rentals and every campus will be different.  

I'm currently looking in the near west suburbs to have closer proximity to the downtown area, although I have ties more west and look at St.

Dig into the details yourself, plus you know the situation for your property, neighborhood, proximity to neighbors etc.

For a place with your design and proximity to cool things, your price seems exceedingly reasonable.

I believe this bill was meant to target those investors and not the honest landlord and I think that is evident in the amount of requirements that require the physical presence of the landlord. 

Unfortunately, this in turn can also have other adverse ramifications that may end up affecting the pocketbook of the landlord due to the tenant's ignorance and negligence or seemingly lackadaisical attitude in maintaining the property according to the terms of the lease.Case in PointTo prove a point, my company recently provided inspection services for a couple of commercial properties owned by a real estate investor who presently leases each property to a different franchise business, one of which represents a chain of successful retail store outlets (that doesn't need to advertise) and another that represents a successful 24/7 physical fitness exercise facility that often advertises on television during normal viewing hours.