FULL STOP  Your ability to make such a profit will depend on your ability to manage the asset better than the prior owner.As a seller, the broker should be helping you determine the price point, at that time, that attracts enough buyers to achieve an optimal sales price.

Quote from @Adam Michael Andrews: Working is how society accesses our individual talents and abilities.

Both methods require finding a property that makes sense for your risk tolerance, purchase ability, etc.

I wasn't aware that you have the ability to PM yourself. 

Good luck in your growth.

Portage Park has been a hot growth area!

It involves investing in strong growth markets, diversifying, and buying distressed properties.

If you are really planning growth to scale then mail in house.

But, he has no ability to take any corrective action he feels is necessary or beneficial.  

-Do the area demographics support occupancy and higher rents (population growth, low unemployment, low crime, increasing wages)?