The rates change frequently, sometime 2-3 time in day.

Chris:That is frequently true as there are two street faces which typically have larger setbacks, but the size of the lot and its zoning will tell you just what can be built there.Around here a tear-down goes for land value.  

The only thing that gets publicly recorded here are the Articles of Incorporation (at the state level) and the Declaration (at the county level), which are very broad documents and don't go into individual rules.The By-Laws and the Rules and Regulations (which is the meat of how the HOA works and where you would find things like prohibitions against STR) are private documents and change quite frequently.

I am based out of Bolingbrook but work in Chicago and Oak Brook frequently.

For 2017, those rates are: $0 - $2,500 = 15% of taxable income$2,501 - $5,900 = $375 + 25% of the amount over $2500$5,901 - $9,050 = $1,225 + 28% of the amount over $5,900$9,051 - $12,300 = $2,107 + 33% of the amount over $9,050$12,300 + = $3,179.50 + 39.6% of the amount over $12,300With rentals, you can frequently structure them so that, in the beginning when the interest paid on the loan is high, there is no profit (due to the depreciation deduction).  

No excuses, no delays issue the notice immediately.If you have a high risk tolerance and can easily manage quick turnovers it is ultimately your decision as to how you wish to operate the business.I personally do not compromise my screening policies/standards as I concentrate on high quality tenants to lower my risk and my tenant management time.

So you may be approved for lets say hypothetically $50K loan at a 3.99% APR but in just 5yrs depending how frequently the fed raises rates you could be looking at 6% or more by that time.

I'm trying to stay out of the fray and concentrate where others aren't looking so hard but that cuts down on opportunities as well.

Check the filters (you can usually find the full box you left in the closet for the tenant on the day they moved in; frequently dusty and totally untouched way back in the closet). 

Usually, when I see people doing well with those properties, it's because they're part of a larger, concentrated portfolio, so the owner is able to spread costs efficiently across the portfolio.