This goes for any condo but you need to see a resale cert and reserve study for the complex.

After the lease was signed & security deposit & first month’s rent was in hand, she mentioned her son had a service dog (the apartment complex does not allow animals).

I have run a house before as well as an apartment complex, so I'm aware of the overhead / maintenance stuff -- looking for more specific experience with students or with house hacking in Chicago.ROI looks to be the highest with this setup, since rooms are renting from 300-600 each in these areas for students.

Found a possible deal for a rental condo that meets my numbers. Called the realtor up since the condo has been on the market for a couple of months and the reason why the condo has been on the market for awhile is tha...

There are some complications under the current rules on how you have to sell your investment in order to make the tax election, but hopefully that will be fixed in the final regulations.Also, a lot of people ask - operating income during the investment is taxable under the normal rules.There can be a lot of complexity for OZ deals, but in the case properties involving a large rehab component, it can be much simpler as long as the structure is in place before you start making purchases.

The residence can be a house, condominium, shares in a cooperative housing corporation, a townhouse, boat, mobile home, or recreational vehicle, but it must be used as your primary residence.

I purchased a 10-unit complex in California with a hard money loan.

So my family has owned a 6 unit (4 bed/1 bath units) apartment complex in westchester, NY for almost a century, and I think it is time to see if there is any way we can get round the ridiculous rent control.

@Paul Sandhu rents to a very specific clientele so I think he can get away with a less complex agreement. 

We have found that seniors prefer this residential model over the large complexes.