**Structural Concerns: Walls Not Level** - The walls on the left/rear side of the building were not level on the first and second floors.

They make sure the tenant doesn't fall behind, and if they do, they start the process of removing the tenant.

Chicago has far better investment opportunities and it makes sense to keep building on the processes that work, if they are working...

I would structure this as a second home loan.

Markets closer to where you live tend to be easier to get started with as you might be able to learn the processes of managing a short term rental.

My recommendation is that you also speak with a real estate attorney that regularly represents investors - you need a game plan going forward on how to structure your current and future investments.  

Eviction rates are less than 1% and process is very quick.

Our screening process tends to keep riff raff out, but like any real estate deal we see the occasional problem child and deal with them swiftly before they upset the order of the home.  

Though, this process will be the same for the other state (if you created a CA LLC you may need to register it as a foreign LLC in the state in which you are doing business/holding property).

Just spend the next 6 months browsing these forums, listening to the podcasts, reading a few books.Then start connecting with local realtors, general contractors, and developers.Post any specific questions you have about the process here in the forums and you'll get answers within a few hours.