For example if you have 2 prong outlet in a wall and you gut that wall they can require that outlet be brought up to current code AND they could require additional outlets in that wall as well.

I’m currently looking for a lender for new construction for beginners if you could help 

@Elizabeth Seiferth - You can definitely make deals work in Maywood with the current market. 

Given current rates and pricing, finding properties that cash-flow is almost certainly going to require more than 25% down.

Or another work around is taking on a DSCR loan on your current investment property and using the cash out to buy another property. 

The standard deduction is currently 14,600, or 29,200 if married filing jointly. 

Hello, I currently live in California and have been successfully managing my multiple properties in the Frisco (Texas) area for the last 3 years.

If you can't get cash out, consider the likelihood of your market appreciating further/bouncing back from where the market currently is, as well as whether you can do any value add to your properties to boost their values.

Also realize that the taxes on the unit that you are basing your purchase on - are the current owner's taxes.  

Please shed some light on this topic, especially if you currently are wholesaling in Illinois.