Investors made a killing buying homes in 2010 when many companies were going under and everyone in real estate panicked.Tip #2 Only listen to investors who are where you want to be.

It doesn't look like it would affect small, private landlords who have 10 or fewer units just big PM companies. 

We found a management company that is charging 10%.

For those that are unfamiliar, Vacasa is primarily a STR Property Management company.

I would try to make sure a title company is involved, because if you go to sell it later, the title company for the sale may be too conservative about deeds that were recorded without being part of a title insurance policy, if that makes sense. 

HVAC company?

My company leases a property from a private landlord in Glen Ellyn, with permission to sublease.

Once it's determined that a property is eligible for STR usages, an in-depth analysis and Pro Forma should be developed with help from online tools and estimators (such as AirDnA), real world rental experience, local PM companies, lenders and RE Broker.

We want to utilize our income to set us up for financial success as we get older and for generational wealth for our kids. 

Most, if not all, insurance companies will deny any claim on a dwelling with un-permitted construction/upgrades.