I'm trying to be more pet friendly as this opens up a wider prospect of tenants to choose from.

Pets will probably create more damage. 

It needed wiring update, subfloors removed and replaced, new flooring, new bathroom, new kitchen, trash/pet waste/people waste/etc removed.I put $15k into the place and about 500 hours of my time.

I believe a large portion of the retail inventory is going to people who work in Chicago, but want a bigger, nicer place to live with a yard, a garage, their kids, their pets, and a reasonable commute to the city. 

We weren't planning on pets but I understand "service animals" are under a different category.I'm not sure if fair housing laws vary from state to state but with regards to California…What is the correct legal verbiage to use in a phone call to say..A: We aren't Section 8 approvedB: No pets allowed.Interestingly enough, Craigslist flagged using "no pets" in the body of the text.

I really think that they are exaggerating but I want to get off on the right foot.I did some spot cleaning on the carpet right before we moved out and I'm really hoping the smell is just from the products I used or maybe I stirred up an old pet pee spot. 

I don't allow pets.

Use proforma GPI (assuming all units are occupied and everyone is paying rent), then, subtract out the market vacancy and add in any Other Income the property would generate from things like laundry, storage, parking, pet fees, etc.

If the tenant has a pet, there is probably a pet deposit or pet fee that has been paid and should be transferred to you at the time of closing.  

I don't send the Cozy background check request until I screen the hard copy application for income requirements, pets, smokers, etc.