In my experience, commercial property owners tend to be more sophisticated and financially stable than many residential property owners, particularly in a smaller market like Connecticut.

It definitely present with its own set of challenges especially in certain C class areas where tenant turnover or rent collection can be tougher but if you're doing your due diligence on the specific street, rental comps, and crime rate, you can find solid, cashflowing deals.Class D tends to burn people, and Class A rarely makes sense unless you're playing a long appreciation game or have a different strategy.

Rental Agreements tend to be state specific since each state has its own rules, regulations and laws that need to be reflected in the agreement.  

Illinois taxes tend to be high, so watch out for that.

While carpet might have a lower upfront cost, it tends to have a shorter lifespan and can lead to longer vacancy times due to how it looks after a while.LVP, on the other hand, is a more durable option that will last longer and present better during tenant turnovers, despite its higher initial cost.

Quote from @Sami Gren: I have a tenant who tends to be quite rigid in general.

The tax increase will be proportionately the same across the tax district based on each property's millage, so if school tax increases 5%, every property's tax in the district increases 5%.Municipal drivers tend to be EMS services, infrastructure, trash/sewer, park & rec.

Check that tenant is complying with all local statues and what insurance they have.You'll want to be added as "additionally insured" - assuming it covers enough.You may also want to require Renters Insurance as kids tend to cause a "bit" of damage.Are you a member of NARPM?

The clientele is mostly individuals traveling for work (e.g. contractors, consultants, travel nurses) and they tend to be very professional and keep the place clean / notify of maintenance requests timely.If you are looking for a platform after you have a tenant with rent collection, maintenance request tracking, etc, I would recommend TurboTenant.

AppreciationOver time, property values tend to rise (especially in growing markets).