(See O.M.C. 8.22.030 B(2))Dwelling units exempt pursuant to the provisions of the “Costa-Hawkins Act” (see Ca.Civil Code § 1954.52; these exemptions generally apply to single family dwellings and condominiums).2 or 3 units on a single assessor's parcel when one of the units is occupied as the owner's principal residence for at least one year.NOTE: Exemptions from Measure EE (the "Just Cause for Evictions" law) are not the same as for the Rent Adjustment Lawhttp://www2.oaklandnet.com/Government/o/hcd/s/LandlordResources/DOWD008759

I pay for HOA dues, property tax, and dwelling insurance.

I'm okay with paying for some of the mortgage/expenses each month when I amoccupying a unit; just need to make sure it will cash flow positive the instant I insert a tenant in my place.When (if) I find a City of Chicago property that meets the 1% rule and I can feel comfortable living in, I will proceed in applying the 50% rule of expenses, etc.

By right we were able to build 5 dwelling units on this site.

This is a really nice property, that (based upon previous experience) I believe would rent instantly in the spring/summer months.Does anyone have any strategies that they use to attract good renters in the middle of winter?   

Also to the point: try to buy some EXTRA instant equity by looking for under-valued properties.

Most contractors are not business minded, they want instant gratification.

After looking over the assessment it looks like they entered a dwelling value of $0. 

Tons of things to look out for:Make sure this property is zoned for two family dwellings. 

The changes created more options for Additional Dwelling Units- which can be detached from the home (a back yard cabin).