The fact that you’re aware of it and taking small steps is huge!

Maybe $25MM net worth but they are new money and/or dumb money if not both that blindly follow an "advisor".  

The property was listed for $300,000 and the property taxes are roughly $1,000.

There is much less new supply of single family homes, so the rental rates are flat to up a little; this does depend on the neighborhood though, in some of the fringe areas where there is a lot of new single family home construction the rents are a little softer.

Meaning: Instead of the app being submitted in 2 days or so, it's taken weeks. :-(  We are only staying with the bank because the rate is so advantageous and the terms are as well.

In the next few months, I'm looking to get a standard CA NAA lease with RUBS included for billing the water and sewer, as well as requiring tenants to have their own renters insurance, as that is not something they are currently required. 

This would include architectural fees, new equipment, cost of protecting or defending your title to the property, or building improvements.

Contact the City of Chicago on this.

Wishing everyone the best!

In his opinion the best setup to minimize taxes was a checkbook LLC in an SDIRA.