IL is not a mold disclosure state, so they are not required to use the mold disclosure and it is not an item on the property disclosure.If there is not a vent fan, that could be the cause, not necessarily from the old roof leak

I spoke to a few real estate attorneys who advised me to try to rent it out to recoup my losses because there was no hope, so I did.

you have to balance that with the loss of income from having a PM. 

We have done this with every >6000b SUV & p/u Truck purchased since 2003.In one instance we couldn't deduct the entire amount (Can't  create a loss with a 179 deduction) but we were able to significantly depreciate the balance.During an audit I only had to show that the truck was 50% business use & was allowed the 100% deduction.

She said hopefully you are reporting rental income on your taxes and also that it is important to make sure that you are not reporting a loss on either property.

But there's not $300/mo. cash flow....you've got tax and insurance, and you will have repairs, capex and vacancy/collection loss at some point.

That will depend upon the nature of the item. 

Reframed the whole inside, plus had to do wood frame Windows and other items to meet historical guidelines for a tax credit.

Bank's are not motivated to take a loss on the short sale side these days.

I Have 6 good responses and am waiting on their Resume' and ability to finish project and will update as soon as we have someone that will be a good fit.I want to make sure who ever takes this on is not stretching themselves to thin and can get the project done... undercapitalization in this business can lead to monetary loss's very quickly...