Once I build more equity I might not do this but since I’m starting out I think it’s important so I can build a better D/E ratio for future investments.

They used to be just roof with roof warranty that transfers to buyer and 10% rental increase every 5 years on a 10 year primary term with 5 year options. 

@Vance Payne - this book is very helpful - https://www.amazon.com/Every-L...AirBnb income is different than rental property income and it will be reported on a Schedule C and not a Schedule E. 

@Mike Trzaska Transfer a few of those properties into an LLC.

If you are providing tax returns and the property shows up on Schedule E then the lender will see that you own the home. 

Talk the the agent with the broker present and show the broker the e-mails and tell the broker you trusted that the agent had read the form and was advising you to sign it and it was all ok, that is why you have an agent to walk you through the process. 

@Roli E. maybe, but they could also raise concerns about insider transactions as fraudulent transfer of assets.

This is/was pretty common in applications where you want to minimize sound transfer (like a condo). 

Business checking account that tenants can make direct payments to, which gets transferred out later to3.

Call the Chicago Zoning board of appeals and ask them directly why it is rejected and what can you do to make it accepted as a 3 unit.https://www.chicago.gov/city/e...If they tell you that there is a specific requirement you need satisfy then do it. if they tell you there is nothing you can do unless you request a re-zoning then consider whether you want to spend the money and time going through the rezoning process or accept it as is or reject the deal.