@Inshad Kaller I hope all went well with the closing and the property but most insurance doesn't get implemented until 30 days called the seasoning period, but that is if you own the property already.

Landlords must understand legal obligations and prevent injuries by implementing maintenance procedures and safety instructions.

I might just implement that into my system.

I can not locate someone in my area familiar with cost segregation and implementing it on my taxes.

Though Airbnb/STRs are great on paper, they do present a multitude of challenges especially in Chicago where the regulations have been becoming more and more stringent and limiting.

This can be effectively addressed by strategically placing the mini-split units in locations where they can facilitate airflow into adjacent spaces, and by implementing simple modifications like undercutting doors to promote air circulation.

On top of that, Kansas City has implemented pretty strict inspections for landlords which is also eating at your bottom line. 

I recently had a chat with the Director Of Multi-Family Prooject with Airbnb and they are reaching out to Multi-Family Investors to offer a program to help implement short-term rentals for their properties.

@Tyler Hogan I am not a CPA, so you should consult one before making any decisions, but I have spent 8 years studying and implementing personal finance and stock market investing strategies (investing mainly through retirement accounts).

My issue with people trying to implement this strategy is they have no money.