Ultimately, Chicago needs job creation and tax reform to help turnaround some of the population trends. 

The personal property can be taken as bonus depreciation and possible 179.( you can only take sec 179 to the extent of your income so mostly is not doable) There is no Qualified Leasehold improvement property going forward with new tax reform for section 179 and bonus but something called qualified improvement property.

Obama and Senators claim financial instituitions and Wall Street need stricter reforms, well the real estate industry is in desperate need of regulation too.

The financial reform recently passed is pretty much eye wash, but has some good points.

Jay, LOL, yes, the wholesaling issues, that might come out of the ARELLO supporting regulatory reform on a national basis with state regulators. 

Next year it might be capped based on new tax reform.  

Amanda HanBrandon HallTax Reform Update – Brandon Hall and Amanda Han Linda Weygant GuidesUltimate Beginners Guide Forum StickiesBP Calculators or spreadsheets uploaded by membersMy Favorite Books I have to say all of the BP books…right?

If you think you can increase the costs of electricity, employing people, health care etc dramatically to stimulate an economy then you are crazy.These reforms should be done when you are back on top.cheers

So it appears that the GSE model is officially being declared dead by the Obama administration and is nearing major reform from what I am reading from a number of sources.

I would take caution in how you collect your rental income and take a measure of safety when drafting your lease agreements, but make no mistake, the federal government stands to make a significant profit with this industry and there is NO WAY they're regressing all the statewide reform, taxable revenue, medical benefits for patients and starting another rebellion amongst the MAJORITY of many states' taxpayers to shut something down that is proving to be one of the biggest cash cows it will see in a long time.