.✅ More Control – You’ll personally handle tenant screening, rent collection, and property upkeep, ensuring everything is done to your standards.✅ Stronger Tenant Relationships – Being involved directly allows you to build rapport with your tenants, which can lead to better communication and longer leases.Cons of Self-Managing❌ Time-Consuming – Dealing with maintenance requests, late-night emergencies, and tenant disputes can quickly become a second job.❌ Legal Risks – Chicago has strict landlord-tenant laws.

The president has zero impact on underwriting guidelines and  zero direct control of interest rates. in fact the fed has no direct control of long term rates that effect mortgage rates.

Is there room to reprice water so it’s rational such that the heaviest users pay the highest rates vs today where the lightest users do, particularly in areas like CA?

Once you have a PM put it on market for rent your friend is more then welcome to go through the process with them.

-To your success, Zach Lemaster, CEO Rent To Retirement---https://www.biggerpockets.com/business/page/3497https://www.biggerpockets.com/users/ZacharyCole/referenceshttps://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-reviewhttps://www.biggerpockets.com/forums/92/topics/1116050-a-huge-win-with-cori-from-rent-to-retirementhttps://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-dealhttps://www.biggerpockets.com/forums/88/topics/1047543-big-profits-from-new-construction-sfr-build-in-cape-coral-flhttps://www.biggerpockets.com/forums/92/topics/983659-first-investment-property-with-rent-to-retirement?

I use rent receipts for my tenants to keep track of payments.

@Sharon Porter,Investing in a state-controlled property like this can be an opportunity, but it's critical to understand the legal and logistical nuances.

Keep in mind rent control is 1 thing, its a laws for existing tenants but some city's like Newark are so strict that you must get approval for what rent can be even after a tenant moves out and new ones move in. 

I thought there was a chance that one could use real estate to directly lower their main source of taxable income (such as a w2).

One thermostat controls BOTH units currently.