The Illinois Manufactured Housing Association is currently fighting two bills in Illinois that would allow rent control law and regulations.

Capital improvements do not include the following as set forth in the regulations: correction of serious code violations not created by the tenant; improvements or repairs required because of deferred maintenance; or improvements that are greater in character or quality than existing improvements ("gold-plating" "over-improving") excluding: improvements approved in writing by the tenant, improvements that bring the unit up to current building or housing codes, or the cost of a substantially equivalent replacement."

Because that is how the seller is pricing it (supply and demand) and that is how a residential loan appraisal will be structured.It is possible that the numbers you are running on an income basis are leading you to $110,000 purchase price.

Had a company that AHS sent over last year that replaced a heater, no issues.Different tech this year, same subdivision, different property, same setup (no pressure reducing valves and no pressure tank), and tech claims it needs "Sediment trap, expansion tank, T&P modifications, and permit", essentially more than what AHS says the new tank itself is worth.Figured I'd ask here if anybody knows the exact regulations, because the tech seems not to want to explain anything other than "We can't tell you by law, only American Homeshield can, we've told them what it needs".

If you buy an asset that is in high demand, that demand couples with a low supply will push the price of that asset up, whatever the asset is.  

This means that you would comply with Regulation D, file a Form D and you would only be obligated to complete notice filings in the states in which you sold securities. 

That is the price you pay for investing in a market with high demand and limited supply, but those same dynamics cut both ways ... that which is difficult to buy is easy to sell or rent and will tend to go up in value over time if the fundamentals that created the high demand and limited supply are consistent (which they are in CA).

You have to isolate each units water supply .

Hi @Shantaviae Wynn,We typically aren't aware of our client's method of financing, but if there's something specific you'd need from our firm to satisfy the bank then we're happy to supply that to you provided you let us know what those requirements are. 

Cashing out equity works against that effort.You should raise rents to what the market and local laws and regulations allow.