The houses in central Il are not very expensive compared to other parts of the country, property taxes are crazy high though. 

Understanding the difference between an "expense and a cost" is critical, and the difference between "getting there first, and getting what's left".

Chicago's market is very expensive (for me at least) and my girlfriend has very expensive taste as well so the cheapest place i have found was 800k for a 4-plex. 

The appraisal shows Reconstructed Income and Expense for the income approach of the appraisal.  

Add a pop up vent behind the stove and hope tenants use it ( In my opinion not likely and pop ups are very expensive)3.

Austin is just getting too expensive and a huge bidding war on purchasing properties so I am interested in learning more about the San Antonio area which looks promising.

There has to be enough money after expenses to pay all your bills including your loan.3.

Tankless is not always cheaper then replacing a tank one.Tankless, you might need to upgrade the gas size.Tankless is usually more expensive then tanked ones.So ask your self  is t worth it?  

I have out of state turn key properties and also am looking to purchase a 3/4 unit in Oakland or anywhere bay area but with criteria to live rent free after all expenses.

I have 1 rental property and working on another one. recently started an LLC. what a gathered through bp/podcast. the benefits for an LLC is taxes. saying if you made $100, you spent $50 on expenses, you as the person would get taxed for the whole $100. now say you have an LLC. you made $100 and had $50 in expenses. you are taxed the remaining amount which in this case is $50. in regards to adding a property under an LLC. through a few podcast. they talked about having different LLC with each partner. so unless you want to share the pot of your first rental with your new partner, I suggest making one.