Norfolk if you know it.As the title suggests I am returning back to Chicagoland in the spring, my wife is from there and we spent a number of years there together in Oak Park ,one of the Western Suburbs.Anyway we are looking to invest in some real property to provide for us in our dotage.Off to hunt round the site now.

If you don't spend HOURS discussing potential problems and don't have pages and pages of operating agreement you've not spent enough time.

This is money better spent now then after engaged a contractor and begun the "Work".

Say you do all that and get 50 extra a month but spent 3,000 in lost rent and repairs.

@Dawn Anastasi Hey Dawn, I have a different take as I spent 20 years actually working for banks.

You may also find the $300-$400 spent on your own appraisal to be money well spent too.

Or, thinking a bit outside the box, could the original owner be a 1% (or less) beneficiary of the trust and the co-owned LLC a 99% beneficiary?

Plaintiff, ACM Liberty Residential LLC PO BOX 25430, Portland, OR 97298 is due:Principal $139,585.89Interest from 11/01/10 to the 10/21/2013 $13,411.31Court cost, now taxed $280.75Other: Negative Trust Balance $- 2,793.58Other: Paralegal's fees 2.90 hours at $85.00 hourly rate $246.50Other: Attorney's fees 22.30 hours at $250.00 hourly rate $5,575.00TOTAL $161,893.032.

I spent 6 - 9 months, studying, reading, talking, and looking at properties.

The best 10% I ever spent.