Without knowing what part of Illinois you are in I cannot give the correct advice.

Since it's just one specific property you're interested in I would hand-write a letter and make it personal.As far as determining what you should offer you will need to get inside the house first to see it's condition.

Anyone in?

When renters move in I tell them to treat the house like it was theirs and if they break it, fix it. 

I will have to get my score 775 run by Chase to see if they can offer anything better than the mess i am in.  

I bought my 1st at 16 (my grandfather put 95% in, i put in all my "paper route money" and everything else saved, about $3000 in 1983.

A quick search in Mt Vernon between $75k -$80k... every house looks like it needs a new roof so make sure you factor that in.

I own a home in Kentucky that's rented and a home in Cache Valley that I live in.

A typical buy-in is $50K and sometimes you can get in with  $25K or less depending on the deal size and deal sponsor's will to accommodate you.The deal sponsor is a critical part though.

With that being said, I understand that nothing comes easily and this is generally a business in which you get out what you put in.