An overwhelming majority of Chicago leases start on the 1st of the month and expire at the end of the month, which can cause chaos when tenants move in and out. 

If there are major issues he can negotiate or you can walk away.

So really, the majority are more than 100 years old.  

The second pillar is a good insurance policy as that cover the majority of your exposure.

Now that vast majority do rely on Rul 506b as an exemption and that prohibits advertising so a good way to get around that is to have a pre-exisitng relationship.  

@Greg Grant Numbers look good, but sounds like you could be in for some major challenges in the tenant and property management department, EVEN if you hire a PM. 

Location limited to Texas, in or around cities like Victoria or Corpus Christi (not expensive MSAs like DFW, Houston, Austin).No particular asset type in mind, could be anything from retail to MF to warehouse or other.Renovation mostly non-structural, although upto 20% structural should be fine.Is there any particular asset type that typically requires major renovation?

Hi,I'm planning to start snowball payment of mortgage on my 3 duplexes and after going through some previous posts saw the major disadvantage is an impending lawsuit from a tenant.

I am nervous as I dont want to make any(major) mistakes.

Fannie Mae now allows you to transfer the property to an LLC in which the borrowers on the loan are the majority members of the LLC, without it triggering the due on sale clause on the loan.