Details to follow, the numbers are not exact:My client owns her current home, which has a little bit left on the original mortgage.

So if I bought it I could get a mortgage on it as a SFH.

Way cheaper if you do it yourself (very easy DIY for a one day adventure).

Currently leaning toward getting it in my name for the lower rate, then looking into whether or not to risk the transfer and avoid the Due on Sale, etc. later on.Separately though - let's say I get the property in my name under a conventional mortgage loan, and for whatever reason never transfer it under the LLC - could I still use the LLC to pay the expenses and collect rents, effectively operating as a business for managing my personally owned properties rather than owning the properties itself?

The sellers came down $2,000 more off the asking price and we're rolling $10,000 into the mortgage for a new roof. 

Projected rents in Chicago compared to mortgage payments are pretty favorable.

You need to approach them as if you had no idea they stopped paying their mortgage.

For 2023, the only consequence to keep in mind is that you're only eligible to claim half of your mortgage interest and half of your property taxes as personal expenses, and the other half would be tied to your future rental unit.

I purchased my first property back in 2018; the monthly mortgage payment is $1300 (which includes interest, principal, property tax, and insurance).

Take the time to meticulously crunch the numbers, taking into account various expenses such as mortgage payments, property taxes, insurance, maintenance costs, and potential vacancies.