The right mindset is so vital and the most important first step to success.

However, there have been many periods of growth since 1950. https://dph.illinois.gov/content/dam/soi/en/web/idph/publications/idph/data-and-statistics/vital-statistics/illinois-population-data/County-Census-Population_1950-2020.pdf

People's spending habits are insane.

It also tracks who is in what house and all other resident info I might need, and is absolutely vital to our operation.Each of our houses has a live-in manager who, for free rent, ensures all residents are following a strict set of rules and guidelines that is enforced quantitatively with a points system to ensure objectivity and uniformity between managers and houses.  

Each plays a vital real, and each depends on the other two for success. 

Take care of your properties by eliminating premises liability exposures, exceed the implied warranty of habitability standards;  be responsive and reasonable with tenants;  Screen and work with- licensed and appropriately insured contractors, property managers, brokers;  Use contract management to shift risks and defense; avoid your own conduct and conduct of others that arises to negligence. 

Reconcile monthlyMake it a habit to review and reconcile your books at the end of each month.

I did have an HO6 insurance policy for my unit, but I don't believe the coverage I had will be sufficient to rebuild it.Given that I have been paying the mortgage, condo fees and insurance or the past 2+ years (since the water damage) without my unit being habitable, and now understanding that the insurance funds will NOT be enough to rebuild my unit, I am contemplating other options such as giving the property back to the bank or filing for bankruptcy.

Not saying that's you but personal finance and money habits are more important than buying real estate.

The PG county website has the following language: "Basements or portions of basements shall not be used for bedrooms or as a habitable space unless authorized by the Enforcement Division of the Department of Permitting, Inspections and Enforcement."