The bottom line is that you, the buyer, relied on information presented by an agent (yours or theirs) that the tenant and previous owner have since stated is not true and it's likely going to cost you money.On the positive side, in the grand scheme of things, it's probably not a huge amount of money as the terms of the leases are up in few months.

I've been an Estimator and Assistant PM for a GC, performed take off for a large government construction management firm, conducted design reviews on behalf of the government, and I am an Architectural & Civil Drafter by trade.

I get tempted for multi family in Michigan (Kalamazoo, Lansing, Grand Rapids) but am trying California first.

Pillow is specifically designed to offer short-term rentals as an amenity.

As a general rule for non slumlords - fix it as soon as possible - 3 days isn't that long in the grand scheme (easy to say when it isn't your hot water).

We also seem to have similar backgrounds as I have a mechanical design engineer background.

But I am an interior designer (I work at a local architecture firm), and I'm willing to help with any interior design or decorating issues/questions you may have!

I work out of a condo in Daytona called the Marina Grande and much of what @Mike Mclean said about ISB-Main street is correct.  

Or was it just that the the property wasn't maxed out for the zone that it is already designated for?  

Those income limits were enacted because cook county was declared a designated disaster area back in 2013 by FEMA.