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How To Convert Your Primary Residence To A Rental Property

Converting Your Primary Residence to a Rental Property

Many people reach a place in their life where they are ready to improve on their quality of living. This could mean investing in real estate as a way of improving their monthly cash flow or it could simply mean buying a nice vacation home at the lake, in the mountains, or on the beach. For people who wish to convert their primary home to a rental property there are a few rules and guidelines to follow.

2024 FHA Loan Limit in Illinois by County

Illinois FHA Loan Limits

Saving for a down payment can hold you back from purchasing a home. But with the Illinois FHA program, you can purchase a home with as little as 3.5 percent down, making saving for the down payment a little easier. You might have money saved in your checking or savings accounts, but family members can also […]

Minneapolis

Along with St. Paul, Minneapolis is collectively called the Twin Cities. The metro area of the Twin Cities ranks at number 14 in terms of the overall population. Ranked as the most populous city in Minnesota, Minneapolis is also the county seat of Hennepin County. Population and Number of Homes According to a census from […]

Northbrook

Along the shore of Lake Michigan, and north of Chicago, lies the town of Northbrook. The town receives its name from the Chicago River’s Northern branch that cuts through the town. Northbrook is a part of the wealthier suburbs of Chicago that are collectively called North Shore. Population and Number of Homes The most recent […]

Oshkosh

Lake Winnebago, where Fox River joins on the west side, is home to the city of Oshkosh, Wisconsin. The city is within the limits of Winnebago County and boasts of 95,000 residents as of the most current census. Population and Number of Homes Based on the information reported by the federal census from the year […]

Rochester

On the banks of Zumbro River in Minnesota is Olmsted County’s county seat, the city of Rochester. Rochester is the largest city in Minnesota behind the Twin Cities metro area. Population and Number of Homes The recent census from 2010 shows that Rochester has 106,760 citizens. There were over 45,000 housing units making the density […]