I have already spoken in person about the details, now just planning to execute the lease signatures.

The rent let them live in the house while they were paying it, and the OC bought them a specific length of time with exclusive rights to buy the property....and, yes, when the buyer decides to execute the Option to Buy, they need to sign a 3rd agreement...the Purchase Agreement (same as if they were buying it from the beginning), and get financing...just like they need to if they were buying it from the start.

Evaluate what strategy will help you meet those goals and what time you have to execute that strategy3.

Convert the downstairs bed/bath into a JADU and rent for 1200-1500(depending on size and location and then execute your plan with the new ADU. 

But they don't do it for every gypo logger who comes along you had to have experience and such so the mill knew you could execute.. big difference than being a beginner.. and these loans were a low of 200 to 300 and we did them up to 2 to 3 million.. once the mill was paid off the remainder was ours.. turn times 60 to 120 days profits from 50k to well over 1 mil.. its was a glorious time.. although all ordinary income so we paid a boat load of tax but who cares when your making massive fully levered profits. 

What steps do I need to take to executive the 1031 exchange? 

This will provide a clear (and quick) understanding of material changes made to the Lease since the original date of execution. 

I’m also happy to chat about Chicago’s short term rental restrictions to ensure you can execute your strategy, based on them.

After taking the defendant to court, and winning by default as defendant never showed each time, creditor is looking to collect on that $130k, the creditor has a executed a sheriff sale against the rental property of the defendant. 

Yes, I did purchase a standard owners title insurance which after reviewing, says it covers the following: - A third party claims interest in title- Improperly executed document- Pre-policy forgery, fraud or duress- Defective recording of documents- Undisclosed restrictive covenants- A lien on your title- Unmarketable title