As you are renewing the lease, simply ask for a recent copy of all of the utility statements for which if the tenant defaults, you are responsible. 

@Jacob Lopez  The price point sounds reasonable if in solid condition. 

In such cases, it's important for property managers to stay proactive and responsive, while also being empathetic to the tenant's situation.

Property managers hold a key position in the process, as they are responsible for ensuring that property owners can maximize their returns while also safeguarding the overall financial health of their investments.

This includes setting up ownership structures, rights, responsibilities, and contingency plans for potential disputes or changes in the partnership.3.

So those are all solid things, toll brothers tends to make a good product that ages well, low rise buildings are good as well, you will probably have some but limited appreciation (though could be eaten up by condo fees increaseing) If you hate managing, sell it, if you don’t mind managing it it’s probably fine to keep and unlikely to depreciate in the way many condo buildings do. 

Michael Blank's SDA is solid.

Thanks for your response Brad.

Is this correct.Otherwise you would not be transferring title and it would just be a straight refinance, in which case there would be no quit claim deed necessary.Derek, thank you for the response. 

As @Alan F. pointed out 20% is a little thin, especially as a first deal - I would say though, in my opinion, the most important thing is getting started so even if it's not a home run a single, walk, or even a strikeout is better than not even batting... because as you take more at-bats you'll get a better batting average.Happy to connect around the renovation process and help you build a solid team here in Chicago.