I walked out into the parking lot after the class and got into my dirty, messy truck and looked around at everyone else’s dirty, messy cars and trucks (it’s been snowing all week, every car on the road is dirty).

Rents are a bit lower in this area compared to those closer to Orlando/Winter Park, but prices seem to decrease faster than rents.   

It depends on the density target and other factors that the zoning officials evaluate.

Building has sauna/pool/off street parking but just older less attractive building.Deal Structure - they would buy 100% cash and sell to me on contract for deed $0.00 down 5% interest 30 amortization. 

The problem is that passing this new law doesn't just magickly mean we can add an ADU.. most properties will still have problems with parking, utilities, boundary set backs, and other issues that come up with permitting, etc. when adding a third unit.

I would send them the official letter but also have a phone conversation.But seriously,  raise the rents before you renovate.

@Brie Schmidt  As of right now, we are fairly open, but our target areas would be Avondale/Irving Park/Pilsen/Bridgeport/Bronzeville, ideally. 

@Dontrea Riser Mobile home park investor here.

Nearby parks or convenient retail?.

There are many things to consider like jobs, curb appeal, interior and exterior work that needs to be done, request actual numbers, amenities, storage, parking, public transportation stops, access, nearby schools, nearby parks, and nearby retail.Good luck to you!