Capex-  make a list of all upgrades required.  

That would probably require a professional. 

It’s good to budget for unforeseen expenses.Regarding PMI, it’s worth discussing directly with your loan servicer since many lenders require holding the property for a period or reaching specific equity thresholds before removal.If market rents are $2,200–$2,500, hiring a property manager could help you optimize rent while taking the burden of tenant screening off your plate.

Based on your post, it's probably best for you to simply not invest in Cook County for your own peace of mind.Sure, any tenant could stop paying rent and that risk is never zero.

You're going to have to scrap like crazy to break even - think rent by the room, short term, mid term strategies that require more work.

Although, some of the information was not required either time and some was required both times.

I would be happy to go over some of the requirements for getting a mortgage in the US as an international investor. 

He offered to sell it to me with owner financing for $400,000 and only required 10% down, so I jumped on it.

What kind of seasoning is generally required as it relates to the rents/revenue as it relates to servicing the note, etc...I currently own one PadSplit (acquired via Subject-to) that has been up just over a month.

My requirements?