This will give you a better understanding of the market you're operating in, and should you find a property you may want to buy, the cost estimates will come to you naturally.

Those are just my opinions but I guess people like the simple easy no yard work of an apartment. 

A perfect example would be a search-and-rescue animals because they do not count as service animals EXCEPT when they are actively performing search-and-rescue operations.2.

@Bob Floss II I think I will be able to operate the building at around a 10 cap by the end of year 1.

Ideally they're interested in a small turn key opportunity that would allow them to operate a short term rental business while also utilizing the space personally for vacation - great idea right?!

That's not simple, because there is no basement or crawl space; the tub is installed over a cable-tension slab.One possible solution I thought of would be to take out the tub, reverse it and install it a little higher, with a slightly sloped, essentially horizontal pipe running under the tub from the drain to the existing trap, a distance of maybe 45 to 48 inches.

Give yourself a wider operating margin and a safety net.

But if you have a real business setup, and have been operating it for at least a year or two (with two years tax returns), you should be able to go to many lenders and get quality access to financing -- albeit with more paperwork than the other guy with the W2.

I plan on operating this place as a rental for twenty years.

No one has yet responded that operates in IL therefor no advice you have received can be relied upon without verification.