As well as, do not lend to LLC's... 

My idea is to form an LLC with my partner to qualify for a 100k business LOC with our credit scores (both 700+), our DTI ration, as well as my equity.

We use Appfolio in our office and love it, and I know there are people out there who use Turbo Tenant as well, I actually met their CEO at a conference and he was extremely knowledgeable of the struggle in keeping track of it all.  

Well it sounds you will be on the hook for a septic upgrade.Has the township told you, you need to upgrade the tank or do they only want the drainfield inspection?

I'm seeing renovated inventory sit, then trade well below list in a large portion of the ATL metro. 

In my head I ask myself if we should go for one less capital intensive LTR and give a local STR a try (for the tax advantages) as well. 

We verify everything listed on their application as well as a handful of other questions (using a modified version of the one from BP).

You can also do a skiptrace to find their address and or phone number as well.

It's done well enough to keep the lights on with a modest profit, but definitely could do a lot better with more of that experienced property manager's "secret sauce".

It is very challenging to get your AirBnB license unless you are renting out YOUR UNIT or you do 25% of your units if you have over 6 units or something along these lines.The only way I'd advise STRs in Chicago would be if you are going operate a business to scale and had the resources/local knowledge to do so.I'd actually highly suggest Michigan because there is WAY LESS restrictions.