Here's a blurb from the IL Gov website:This annual exemption is available for residential property that is occupied by its owner or owners as his or their principal dwelling place, or that is a leasehold interest on which a single family residence is situated, which is occupied as a residence by a person who has an ownership interest therein, legal or equitable or as a lessee, and on which the person is liable for the payment of property taxes. (35 ILCS 200/15-175) The amount of exemption is the increase in the current year's equalized assessed value (EAV), above the 1977 EAV, up to a maximum of $10,000 in Cook County and $6,000 in all other counties.

They taken care of a lot of junk for me at my flip properties. 

The manager then gets the mail and sorts it into our individual cubby that don't have a door so obviously it is not locked.I also have 2 rental properties with the rent is sent to me at this address.

@Ellyn Cook, sounds like a great plan. 

Starting as a real estate investor is a huge load of new information and, for me at least, makes it hard to really choose which "bridge" to focus on building.

Having solid insurance and requiring the tenant to have documented renters insurance means their insurance gets the hit if they decide to cook bacon naked and start a fire (sadly I have a friend whose tenant did just this).There can always be more, but this would be a general starting point.

It may just be cosmetic improvements, but there's got to be something.Cheap homes in cheap areas is no guarantee of large appreciation (even with drastic improvements), just like expensive homes in expensive areas have no guarantee that there is enough meat on the bone to appreciate further.

One thing is we should have gone back and negotiated lower, I feel like there was still more meat on the bone and should have just gone for it.

One thing is we should have gone back and negotiated lower, I feel like there was still more meat on the bone and should have just gone for it.

The BPO came back and the seller is willing to sell it to me at that price, with no mark up.