Bought it for $300,000, it appraised for $375,000, and the gross rent is $2,625.My lender only lets me pull out 80% of the purchase price right now. $240,000.

Just keep those off your P&L right from the start.If you have questions on the maintence percentages on the POH homes... lmk and I may be able to help.Hey Roger thank you for your response.

I am asking for any guidance on what else to look into for MTR to make sure this is the right decision for my mother-in-laws property.I appreciate your time reading my post and answering my questions!

Well, last night he must've gone over (without telling me) grabbed his tools and left.

I'm not in a huge hurry as the cost of holding the property is low, so I'm taking my time to learn as much as I can and connect with the right people. 

Yeah man, Long Island real estate is absolutely wild right now.

Make sure you have that addressed just from a liability standpoint. 4) You could also look into a mid-term rental option with traveling nurses if you think the unit is truly rentable. 5) AirBnB restrictions have gotten much stricter as well in general in Chicago, so make sure you are on the right side of those if you put your unit up since you are required to register with the City.

You read that last sentence right.

If you do it, it’s the right thing to do.

The condo is located right near a hospital and McCormick place so we aren't do worried about it, but still a little annoying.From my understanding, the best place to do mid-term rental stuff is on www.furnishedfinder.com