Is the property really in Bucktown proper?

Make sure either you or your property manager are screening tenants properly.

I can't answer your question properly without knowing more, but I can give some rules of thumb.

Go to the title company and review past owners, have an attorney properly review your paperwork, review records for ownership of the home, and if fsbo makes sure there is no clause in the mortgage preventing this for sale by owner, or make sure they have full equity in the home8.

Shame on you in most instances because you didn’t properly coordinateIf it was under architect they are typically responsible for coordination of ALL work.

If it is an outside liability claim (like someone suing you because your son killed someone with your car in a crash), if the LLC is set up in a proper jurisdiction with charging order as sole remedy (or your LLC is owned by a holding LLC in such jurisdiction), then the plaintiff would not be able to reach into the LLC asset.You can combine both by having the property owned by a land trust where the beneficial owner is an LLC.Using asset protection structures can be very efficient in protecting your assets from catastrophic lawsuit by limiting the risk to only part of it.

Such as a proper system to get a credit report on the potential tenant, how much to charge for the application fee, and how to make sure I have the right person moving into the condo.

I've seen stuff in the $2000 to $5000 range but you're taking a big risk if you don't get things set up properly.)Before you search for an attorney that specializes in drafting these documents (and spending the money that entails), you should have a clear idea of what your business plan will be.

But there are still many others who need help with online marketing, building a proper website, things that the younger generation is a bit more experienced in.

The challenge for those has always been the difficulty in doing proper due diligence for these properties so you almost have to calculate the extra risk for surprises when evaluating I think.