take a look at thread:  https://www.biggerpockets.com/...I don't know what State you are looking at or which tax system you are accustomed. 

Because it might be a commercial use, you might be required to have a sprinkler system and exit signage. 

Similar size, occupancy, amenities, and class/location.Beyond that, having systems and back up staff who can both scale with me and provide coverage if one person gets hit by a truck. 

Updated plumbing, electrical, windows, replaced crumbling steps and added sprinkler system.

We have a great healthcare system and an aging population which goes hand in hand.

Obviously this system is not perfect but it is a good speed bump for a new investor.

While the condo we were currently living in we could rent.Went through the loan process, dealt with slow attorneys, delays with oil tank removal and as of July 23rd we are the proud owners of a single family home in Peapack, NJ.The condo in Bedminster:$2,100/month - 2 bed, 1 bath - was rented to the first prospective tenant to come along, (after vetting and all the checks done)   She will move into the property on July 29.I know there are probably some gaps in my description -- am happy to help answer questions but just wanted to put out there that the 90 Challenge worked for me by creating a support system and guidelines to achieve my first rental property.   

Otherwise, as has been mentioned, your best bet is probably RUBS- Ratio Utility Billing System, whereas you would bill back the tenants for gas bills. 

Totally agree about the access to CTA lines--one of the greatest benefits of living in the city--having a world class, reliable public transportation system at our disposal. 

It is about a system.