Once you know what’s really left, I would figure out the best/most cost effective way to complete it and sell the house.

ANALYSIS -Gross Rental Income = $70,200Vacancy (10%) = $7,020CapEx (5%) = $3,510Management (9% of effective gross) = $5,687Taxes = $3,442Insurance = $2,848Repairs (6%) = $4,212Snow = $600Heat = $4,929Electric = $3,343Trash = $652Water/Sewer = $1,500Operating Expenses = $37,743Debt Service = $16,406Net Operating Income = $32,457Cash Flow (after debt service) = $16,051 or $1,338/moPurchase Price = $265,000Cap Rate (of purchase price) = 12.25% Cap Rate (of price + rehab) = 9.55%Total Cash Needed = $66,250 + $75,000 (rehab costs) = $141,250ROI = 11.36%Final analysis - While this property isn't the fantastic homerun deal you hoped, it is still a reasonably good investment assuming your rehab costs (which are just estimates) stay under $75,000 and you can come up with the cash out of pocket to perform all necessary improvements to the property over the next few years. 

This is the one reason why I utilize this because it's absolutely predictable that it will follow a Financial Mathematical Schedule of Principal and Interest Payments, as well as Balance reduction.Because the Amortized Mortgage is absolutely predictable, and I for one follow the RULE "If you can Predict it, you can Profit from it", I actually look to Maximize this within reason.So while I put down 20% for an Investment Property to maintain a level of skin in the game and reduction of risk by having an attractive interest rate, I generally take about mortgages around $1 Million or above.That is because the Mortgage, being paid by my renters, will follow a very predictable path, one which will make me a millions as each one gets reduced or paid off.In fact, if you receive ZERO cashflow but your Million dollar Mortgage disappears in 30 years, you have effectively made an average of $33,333 PER YEAR for 30 YEARS.And, if you consider that the Mortgage Interest is deductible, especially for a Rental Real Estate Business, you have earned even more than the Million dollar mortgage.For some reason, this kind of thinking is not taught ANYWHERE that I have seen.

You can't effectively.

While the other Governing Documents such as By-Laws, Declaration, and House Rules, will tell you how the HOA is supposed to be run (meeting notices and rules, Board makeup and voting); what elements of "your" unit you are directly responsible for; and how you and your guests act on, or use, the common areas, it is the Budget and Reserve funding that will generally have the most direct effect on actual expenses.

Not looking to get political but I’m curious how others think, from a real estate perspective, how the new SAFE-T Act that goes into effect on January 1st in Illinois will effect real estate across the state especially in Chicago.

We have a single family home rented out for 2+years to a tenant and in the beginning of July, we'd hand delivered a letter to one of the tenants notifying them of a $50 rent increase effective this month (September).

but in a competitive market if everyone uses the same ones and didn't adjust the content at all, the results will vary"Actually, if you're using the same content as 50 other people, it's not just that it won't be effective - you can actually be penalized by Google.

Ive heard of horror stories where foreclosure homes were not winterized and a realtor goes to show it with broken water lines in the kitchen leading to a frozen waterfall effect and all the mold and destruction that ensued. 

and with your low interest rates I'm sure the payment is not effecting your lifestyle.