There maybe some misunderstanding, being a short term rental property owner that will be self managing the daily operations, I’ve learned that in this scenario I would need to count at least some of the time spent setting up the property to pass one of the material participation tests.

Being flexible on day 1 tells the tenant that you are up for being flexible and many will continue to test that flexibility in many other ways...bad idea.

FHA is 3.5% down but anything over a 2 unit requires a cash flow test, with rates where they are I hardly ever see anything in Chicago that would work. 

Be sure to have good exit strategy for if/when that happens.A wise mentor told me once that until you've "Battle tested" a strategy for at least 5 years thru one full economic cycle, consider it still all good luck.

Has anyone here tried and tested the Reventure app for the real estate market analysis?

I always recommend to use local companies that provide the data or do It manually when you get startedThen, after you close your first deal, use other sources like national software companies to test it and see what works better.

In my market minimum wage is $7.25/hour entry level wages are in the $12-18 range for labor intensive jobs like working in a warehouse.

He then explains that she hadn't paid her gas bill and when he called to have it turned on to test, it worked perfectly fine.

At least in Missouri, and depending on size, you typically have to test your waste water monthly/quarterly, and then you have to file a form quarterly with DNR which reports the status of your treatment facility.  

Here’s how to navigate these issues and negotiate with "AS-IS" sellers.Step 1: Asking the Right QuestionsDuring the initial phone call or walkthrough, I ask the seller key questions to assess the condition of the well and septic systems:Do you have any well reports, logs, purity tests, or flow tests?