@Paul De Luca thank you

@Paul De Luca I am in Chicago so I think there is something about fair housing that tells how many renters can be in a unit .my question is do I have to follow thay or can make my own rule 

Converting them into primary residences will really benefit you if you're going to hold forever.Another strategy our clients will pursue is sell those properties using 1031 exchanges and purchase passive instruments like NNN commercial properties or Delaware Statutory Trusts which will keep the depreciation recapture deferred. 

@Paul De Luca Great, thanks for the advice.

It’s typically a Delaware LP or LLC.🔹 The Offshore Feeder – Non-U.S. investors contribute here (often a Cayman Islands LP or corporate structure).

It would also put an end to a lot of this WY, DE, NV, management entity nonsense. 

Sentenced to almost 6 years in jail for running a Ponzi Scheme in Cleveland, Ohio that target many out of state investors.WARNING: Matt Motil of Cleveland, OH___Wendell de GuzmanLongtime poster here on the site.

Concrete road with Cul De Sac at the end. 

Hi Stephanie, Have you considered doing a 1031 exchange into an UPREIT or a 721 exchange, or a Delaware Statutory Trust, in order to keep investing that money and also being able to defer that $266k in taxes?

@Paul De Luca i have tje chicago standard lease, no additional language.