Use of permits is not strongly enforced by the city of Chicago, and, except in special circumstances, buyers will not request proof of them when purchasing a home.Additionally, you can check to see what the zoning is on the city zoning map https://gisapps.chicago.gov/Zo...

They can be sold if there is a change of circumstances which demands cash.I talked my spouse into real estate investing.

I have networked with many investors and the horror story they lived because the tenants are not happy for whatever circumstances...is a real thing.

No one, flipper or otherwise, would buy under such circumstances otherwise.

In fact, the biggest winner in these circumstances is your "AirBnB tenant" who is probably growing their profit margin because their biggest expense is locked and under market.

Answers to these questions depend on individual circumstances and their mindset.Homeowners contemplating early mortgage payoff should consider these questions:Should I consider allocating a portion of our current income to make regular early payments?

There is a required intent to live in it for a year, however, if life circumstances force you to move early that's ok, otherwise every time someone active duty uses it and then gets orders 2 months later (saw this happen a lot) they'd get penalized.  

I’m sure decisions change based on circumstances but the original intent to buy this for rent shouldn’t be a question considering all the factors (non resident of the state of AZ, signed contracts for multiple residential properties in a short time all for rental purposes, already rented one in the state of AZ, very established residential rental ownership of multiple properties over 20 years in CA, etc).Btw, the concern with holding it for a year of renting is, the market may crash in that period, at least in this sub-market, and the tax savings may not be worth the losses.

Great point Greg, while I always work to be amicable with tenants the circumstances leading up to close really hindered that.

The tenant-buyer had to vacate in January, 2022 due to her personal circumstances, and we are now rehabbing again to make ready for the next long-term tenant or a similar lease-option tenant.