As the tenant moved in the first week like 5 things pop up ( leaks/ Water heater not working and several other small things) the total is going to be about 800$ i found a local guy to repair them but his labor plus trip charges and parts are racking up, and hes cutting us a deal because his per trip charge is $125 Range. 

this has been going on way before AI many that used to post alot just to juice up their numbers and google ranking.. cut and paste the same reply time and again..

However, like others have mentioned above, there are actually a few ways to handle this that could make it more tax-efficient than a straight gift or purchase.For example, your parents might think about putting the properties into an LLC and trust.

Bank financing is available from a local credit union or bank, but dont be suprised if the bank cuts you off at 60% LTV of the ARV

But remember this is not straight forward as the basis of the new property is derived from the adjusted basis of the relinquished property plus any amount you paid.

I know you didn't ask for a podcast, but I'd highly recommend the straight up chicago investor podcast if your plan is to live in Chicago post-college. 

I couldn’t believe it; it was straight out of something you’d see on TV.Have you been to an auction before?

Cut back on the trips, eating out, I even did Uber a few hours every weekend.

Staying organized like that definitely cuts down on the back-and-forth, and there’s nothing wrong with fewer calls when it comes to basic compliance — it means things are running smoothly.I’d only add one thought: even though bookkeeping questions may be reduced, it’s still a good idea to stay in touch with your CPA throughout the year.

I wonder if a cut-up of the property with the cut-up section getting a new parcel number for the cut up part would cause IRS to renew only as to the old parcel and not the new.