All the floor boards are swollen from pet droppings and theres a stench from it along with her being an indoor smoker.

Debt to Income - not greater than 45% which includes the rent   Employment - Less than a year, 1-3 years and over 3 years - stability is given higher points  Smoker loses points - smoking is prohibited on the property, but the clothes reeking of smoke does require more work when they move out.

(Indoor smoker)-Either paint or replace all the drywall (again because of the smoking)-Replace the water heater.

Each room I charged the same rent rate for and rent covered all utilities.Kitchen: Fridge space was a little bit of a challenge, but it was more-so cleaning it out... we pooled food (split the bill) but all of us were the same eating style and one of our roommates directly benefited from us cooking his meals.

You don't want to rent to smokers?

Move on to the next option or sit and bemoan the fact that someone won't hand over a pile of cash to someone who doesn't want eat their own proverbial cooking, up to you.  

Don't allow cats.No matter how much you spend to 'smell proof' your unit there will always have some kind of stink either from their cooking style or their pets when they move out.

Illinois ranks as the 2nd-highest effective tax rate in the country at 2.03% (although this could be skewed by the tax rates in Cook and Will Counties). 

The tax and regulatory environment in Cook County is dismal.

We are looking for possible other creative financing and possibly other partner investors or buyer investors that don't mind holding the property for rent income.UPDATE: I just dug up the Cook County Assessors letter from Mid April 2014 stating Estimated Fair Market Value at $358K , 2013 at $393K and 2012 at $393KThe 495K is from mortgage paperwork we found as well as pre foreclosure website search, listed that price as well.