Below is a list of our ideas to change the community's perception:Exterior Renovations:  paint & trim out the buildings, repave the parking lot, new signageNew Ownership / New Management signs on the propertyInterior Renovations: newly remodeled units and remodeled laundry facilityHave the local newspaper publish a story on our turn around projectProvide a couple units to local sheriff deputies who will drive their police cruisers homeWhat are some other ideas you've incorporated to change a community's perception of a certain property?

The $500,000 exclusion applies even if only one spouse meets the ownership test.

I RE invest almost exclusively in Ca and therefore do not need to worry about increased property tax.  

The agreement makes it exclusive.

Would it be wrong to put in the contract that the management company I own has exclusive rights to manage the property for a 10% fee.

Is there any specific newspaper or magazine that you prefer for Chicago market research?

Your RE agent's tax person is right but for the wrong reason.For a married couple filing jointly to get the $500K capital gains exclusion on the sale of a primary residence, only one needs to be on title for 2 of the 5 years prior to sale, but both must have occupied the property as their primary residence for 2 of the 5 years prior to sale.Since your wife does not meet the occupancy test, your capital gains tax exclusion is limited to $250K if you sell now.  

The fee for this service is ONE MONTHS RENT. .Both services are completely Non-Exclusive, so if you found a renter before we did, you wouldn't owe us a penny. 

If you both live in the home for 2 years out of 5 you would get a $250,000 capital gains exclusion each.

You do not have to be exclusive to military officers to gain top notch "professional" tenants...especially tenants that may stay longer than three years ;) Best of luck and Semper Fi!