If it's 15 years old, not so much.The rental comps will tell you what gross income to expect as long as you compare it to nearby similar properties in the same condition.Having said that, there's no absolute guarantee.

They could have stockpiled the cash from a legal business and just not reported it, making the tax evasion, rather than the earning of money, the only potential crime.

This must be a popular forum to have so many nearby participants chime in!

Just because similar properties nearby have high vacancy rates doesn't mean yours does.

Is there ample free parking nearby?

You are the bank--not a landlord.Of course, you (1) need the funds to pay it off and (2) need to get this tenant another place if they are not interested in buying (got any nearby vacancies?

Are there up and coming towns nearby that would fit the STR model?

Just put on some running shoes and go for a jog to the nearby park, do some pull-ups on the monkey bars, and heck go talk with some people there while you're at it. 

I live in nearby Jersey City, and I decided to invest in Allentown/Lehigh Valley for higher returns.

I would appreciate any and all feedback, thanks.Additional information:- Not looking to owner-occupy with my budget- Based out of IL, looking for deals in the suburbs (as a result of my budget)- Have also considered nearby markets in Iowa and Wisconsin- Would prefer a property within 1-2 hours driving distance- Looking for deals between 50-175k