Another example is that with a tax auction it is common for all the interested parties to not be notified 100% correctly meaning they could in theory come back later and try to reverse the sale and take the property back!

On the other hand, you might find a common reason that a few of your potential investors are not investing that might change your own thoughts on the deal.

I do own two triplexes in Scranton, and I will say the one issue is that you are going to be taking care of the utilities normally if they are not on separate meters, which could take a good amount of money away from your overall cash flow. 

I would like to purchase my first property sometime next year, utilizing this year to learn and network as much as I can.

This property is gonna cash flow over $1000 a month after we're all said and done with utilities mortgage and more.

In Chicago you request a CHA Burden sheet and that gross number minus utility allowance will be what you get in addition to making sure bedroom size is adequate.  

while I totally understand the frustration especially purchasing what was supposed to be a new and ready to go asset, but these things are pretty common so don't feel to discouraged. 

Utilizing empty lot space in this way helps to combat the increasing housing prices and limited supply many markets have been experiencing.

I mean myself and any bank would need more details, but if you utilize that large sum as a downpayment and have a small mortgage, wouldn't you easily qualify for the debt to income?

If you are new to the business the most common issue is you're either locking up deals too high or you aren't finding attractive deals.