Thus, when a foreclosure sale is held, you can set the bid amount up to the amount of the total debt, which would likely increase from 80K to include the legal fees, receivership costs(we suggest 5 - 10% of the rents collected), repair costs, additional accrued interest, minus rents collected.

As someone that over analyzes things as well, I’d suggest you step back and think about what your goals are in order to help determine what path to take.I like JD’s suggestion about reinvesting in your business.

Just starting out and testing waters for BRRR in Chicagoland area.Any advice or suggestions regarding this?

They might have suggestions or updates that could help with this specific issue.

Suggestions on learning more about contract for deed?

., signing up for an eBook in exchange for an email address) and was wondering if anyone has suggestions on lead magnets that have been particularly effective in converting interested parties into prospects.I’d greatly appreciate any advice or guidance you can share.

I highly suggest getting to some local meetup groups...here is BPs list:  https://www.biggerpockets.com/forums/521-real-estate-events-...I also have a full list of the chicago meetups that I can share with you too if that'd be helpful.

I'm curious as to whether others have walked this mile and whether you have any suggestions on how I can accomplish this. 

First off I took the realtors suggestion and listed with the property management company he promoted to me.

Any suggestions on what to update/populate in our "rules" section to help us make this clearer?