What do I need to do differently in regard to screening, writing up a lease, and actual management of this property? 

It also abides by the residential landlord-tenant ordinance, which if you use other leases is where a lot of things can be missed.So while I don't recommend using it without understanding it, it has been pre-vetted by attorneys so is actually a pretty good lease to use for anyone new or old (but specific to Chicago)

Numerous costs are associated with real estate transactions, so it's critical to have a clear picture of your financial status.Due to the constant nature of the real estate sector, it is imperative to remain up to date on new tactics, market trends, and industry developments.

What d o you think stops you from making the first step into actually purchasing an investment?

Thank you for reaching out to me, I actually just sent you an email with my info if you wanted to have a phone call or possibly even meet up. 

@Maximillian Engram There are no downsides if you plan to actually focus on sales and invest.

That said I haven't actually worked with them yet so I'll be following along as well to see if others have recommendations for investor-friendly CPAs in the area.

We're trying to fix that problem so actual results reflect the will of the people.

I actually agree with @Rick Albert that appraisers usually don't giving enough dollar for what you spent.

If actual costs are higher then projected costs ( rise in material or labor cost), the GC may come back and ask for more money.