I was just talking with an HVAC tech who was repairing an AC at my rental.

ThanksThe basics of the deal:3/1 1246sf ARV $115k Repairs $20kAsking $57kPotential Rent $1000-1100

Are there any Chicago Real Estate Agents willing to assist with comparables? 

In saying that, depending on your level if knowledge, option 1 is probably a better one. because $3000 is not enough of a buffer to service the property if you need to repair things.

Any repairs and maintenance done while in service is deductible.   

I forgot to check the jacuzzi tub before renting it out recently and now the new tenant is asking me to repair the the tub (the shower works).My question is, should I make the repair?

I would raise Repairs to 5%.  

As for the reconstruction work.....since most of the damage was from flooding, I’m guessing most owners did not have flood insurance which means owners will be paying out of their own pocket.....leading to a lot of homes not being rebuilt/repaired and a lot of DIY repairs by homeowners, due to a lack of money.

We are primarily out of state investors living in Queens, looking for a New York attorney to assist with asset protection and entity structuring.

Would love to assist you and hope this helps.