There is no restriction against being employed.

Doing this, you will not be restricted by the 1031 exchange timeline.

In addition to anything the state of Illinois needs, your broker will have to be an MLO with an NMLS license (look those up) and there will be many other restrictions.

i understand they are deed restricted so that is one reason they are cheaper  on resale but is there typically Government Money or Tax Breaks that allow them to build them cheaper in the beginning? 

Not only are HOA fees something to keep in mind, but HOA's can also create restrictive rules that limit or forbid short term rentals.

I currently have a few rental properties that I own directly and I don't have an LLC (cost is restrictive).  

They argued the accommodations were too restrictive and it was cruel and inhumane to put so many animals in a confined space.”"

After dealing with this last condo Ill probably pass on those due to the restrictiveness unless its an exceptional deal!

Does anyone know of any restrictions pertaining to Fannie Mae Homepath properties and agents buying them to flip?

I've called the county and they don't know who's name the access road is in, but I'm wondering what kind of issues this could pose in the future.Theoretically, since the road is private, could I effectively be unable to access my land if the owner of the private road decides to restrict access?