I am NOT referring to a real estate professional status, but rather referring to Passive Activity Limits.

Aside from superhost status and more reviews, the only strong differentiator of the other house itself is an extra full bath, whereas I have only 1 bath total and you have to walk through the whole house if you are in the other bedroom. 

It could be that you’re not coming up in the search because there are too many other properties which have status.

It is important to know that we do encourage you to be in direct communication with your builder to get specific updates along with viewing the publicly available information from the city on permit status.

I am currently in contingent status on a 3-unit multi family property in Chicago, IL.

There is only 17 states where there is no statewide or local source of income protected status.

Some people elect for the s-corp status but it really only helps once you reach a certain income level.

Also, am I legally obligated to disclose to tenants the permit status of the building?

A little late, as i'm pretty much retired, but creative or at least open to not always status-quo investor agents are out there.

When negotiating the deal, you should definitely still ask for a credit towards the hoa as you don't know the status of the account for the unit.