Here's a copy you can download: 2023 Chicago Lease PacketThere are also a ton of sites that allow you to fill them out online and print them, for free.

Here's a copy you can download: 2023 Chicago Lease PacketThere are also a ton of sites that allow you to fill them out online and print them, for free.

The one thing that isn't 100% clear is how to market your direct booking website to current Airbnb guests (e.g. via a printed sign or QR code in the unit advertising direct booking as an option) without running the risk of Airbnb pulling your listing.

Read the fine print about time for service calls, limits and such.In our experience, they deliberately make everything take a long time and have numerous hoops to jump through - all designed to force you to hire someone else, so they avoid coverage.

One thing about the property is that it needs a new septic system in place however it will need to be an elevated system meaning there will be able a 4ft mound above grade from the rest of the backyard that covers a large portion of the yard The thing about this is that it won’t get done until after closing since the seller doesn’t have the cash to pay for it and wants to do a 1.5x price hold back on it so I’m not able to see what it will look like aside from the blue print that the contractor gave us it until after closing.Has anyone had an experience or stories with these elevated septic systems being a big issue or something that would prevent the house from selling?

I'd print those and include them in the binder too.  

@Derek Tellier - You should definitely use your KnoxREIA - Office Depot SPC # to print some flyers about your networking event at the Hard Rock and pass them out at the meeting tomorrow night.  

Some will say they take the money and buy or lend against real estate but read the fine print, you are an unsecured lien holder (this is the case in 99.9% of offerings that show returns above 13%.)3.

These are not expenses or costs that must be capitalized.Now, having divided deductible expenses into two categories, Property Expenses and Overhead Expenses, when I print out a Profit & Loss Statement, the information is presented in the following order:REVENUEminus COSTS OF GOODS SOLD [Edit:This is actually “Property Expenses,” as defined herein.]equals GROSS PROFITminus EXPENSES [Edit:This is actually “Overhead Expenses,” as defined herein.]equals NET INCOMEThe above P&L format is more meaningful to me. 

X for $40,000 (or whatever he holds out for if allowed to do this by the Operating agreement = $50,000,000).The way to do buy him out, and to figure the amounts (should be) set forward in the Operating Agreement (if you have one), as well as how to handle any printed Certificates (shares, units memberships, etc..).If you have no Operating agreement it might boil down to state law and case law of the LLC state or your state.The problem might not be how much to pay (the valuation), but what else needs to be done red tape wise to make it happen--legally.Good Luck!