I guess my question is whether there is good way to figure out who the owner of the property is since it's empty and not on the market.Another possible option is a distressed property, with a rehabbed interior and a sad exterior/ roof/ yard on Byrom St that has been on the market for 4 months with price drops, and up until last week had a giant tree hanging over it which was just removed.

The plan is to acquire a distressed property, backed by an FHA 203(k).  

You can start with Fuquan Bilal's Book "Turning Distress into Success" Also Martin Saenz "Note investing Made easier".

First of all, turn key companies are buying at much better prices further up street such as at auctions and direct from distressed home owners.

That lead me to looking for below market, distressed single units, in Chicago, in neighborhoods with a high rent demand, and that still seems like a decent idea but I'm not getting the return I'd like, but would still be netting positive.

Obviously distressed in some way.

I take different routes through different neighborhoods to look for things like - comp rental rates, new for sale signs, auction signs, distressed property, contractor vehicles, etc.   

Could somebody give me good advice for quick estimate the distressed house so that i can give a fair price.

Purchase price: $450,000 Contributors: Bianca Castagna I represented (as agent) the buyers of a distressed 41 unit apartment complex in Alexander City, AL.

The owners, by definition, are in financial distress and just not in a position to do it.