the house has been encroaching the building line (house was built) 20 years ago or more,most title companies in Chicagoland will insure over the encroachment for the Owner's Policy at no cost to Seller/Buyers.HOWEVER, violations of the building lines on the side of the lot might be different particularly if the house is ALSO  encroaching over a drainage or utility easement.You don't tell us the number of feet of the setback on the side of the house and if house also encroaches an easement.Perhaps you could even attach a copy of the Survey, assuming you learned of the encroachment from a Survey.Good luck.

If someone can $700/month for a fully furnished room with utilities included, that’s a great deal and they’re still saving half of their BAH.

Challenges still facing:Electrical panels and HVAC systems are not split, so I pay for utilities and build that cost on my rents.

It seems light for a property built in 1912 and owner paid utilities.

We are looking at a few multi family properties in our area with 20-25% down, utilizing the monthly rent to qualify.

To be honest, I haven't utilized the VA renovation home loan.

Updated plumbing and electric, new interior AC unit, new flooring, full kitchen remodel, full bath remodels, repurposed square footage to add 2 bedrooms, cut out a bunch of overgrown trees and shrubs, fixed sprinkler system, added a functioning utility room, updated all fans and lights.

You will also want to make sure the utilities that they are responsible for (eg electricity) have been transferred to their name prior to them moving in.

They will want make sure the utilities/depreciation/etc are separated between your living area and the tenant area. 

It's a guarantee that any of the utilities, property taxes, or building insurance that you pay for will go up every year.If you are going to lock in the price, lock it in for no more than 2 years.