I'd like the building to be within 10 minutes walking distance from a Brown Line L stop, ideally in Lake View, North Center, or Ravenswood.

You will have two separate K-1s as you are each individual owners.  

Low property taxes, no income tax and landlord friendly make it ideal for many CA investors.  

Your returns could be increased if you are willing to rent it by the room to individual students. 

A week ago I received a shelter verification form from DSS for a male individual who I don't know at my apartment.

The answer is NO, based on the language of Section 152(c)(3)(A):...an individual meets the requirements of this paragraph if...

I'm not familiar with your area so can't comment on whether it would be ideal for MTR.

Hey @Augusta Owens Bigger Pockets has been so valuable to me in my own journey, so you are in the right place.Ive been hosting an investor meetup the past 3 years and it's been a great place to collaborate with the like minded individuals and collaborate. 15-25 people show up each month and range from new investors to people,e who have been investing for decades.would love to connect and get you some more information! 

Ideally one side would sell out to the other, as divorce is often acrimonious or can become such.

Increasing job growth and a strong economy brings an ideal investment in these markets.