Does anyone have suggestions where we should be looking where we would get the least amount of red tape with regards to zoning and permitting?

If you are just renting it to them as extra square footage and storage, I don't believe you have to address that issue. 

Some were saying to have it based on square footage, so if lower unit is 1200 (3B/1BA) and upper is 950(2B/1BA), would you split utilities 60/40 and bill them that way?

Look at Logan Square, Humboldt Park, Albany Park, does anyone remember what those neighborhoods were like 10 years ago?  

I have been searching in the saint rose district, along with central square and a few others.

Not to mention you'd be back to square 1 on that amortization schedule.As for your liking of our videos thank you sir.

I agree with John; if you are out of state, it is recommended to stay out of RED areas or now, Trulia changed the map so it's the darkest blue shades. 

In the commercial world, say for a vacant office space, I will often see them projecting 6-12 months of vacancy to fill it and maybe $10/square foot in tenant upgrades.

Lots of people want to help motivated youngsters.The "legal" issue seems like a red herring to me. 

This was by far one of the easiest deals I have ever been a part of.Fellow Realtors & Investors as you know most of the time it feels like you are a tour guide traveling to property after property & when you finally get your offer in it feels like you are Moses parting the Red Sea to get the transaction closedThis deal was the easiest deal of my life.