Single Family Rentals in Elgin, IL

[Jonathan Wheeler]

I'm working on a direct mail lead in Elgin (Kane County) where the seller is looking to sell his property while leaving his existing tenant in place.  Are there any current or future landlords who might be looking to acquire a property in this area that already has a tenant in place?  If so, I would be very interested in better understanding your requirements for purchasing this type of property.  We're talking about a 1500 square foot, 4 bed/2 bath single family home with a full basement (unfinished).  The current owner is collecting 1800 per month in rent.  What kind of discount would a local cash buyer be looking for on this type of property?  Any feedback is appreciated.