As strange as it may sound and as wonderful as it will ultimately be it may be a tough adjustment for her into early retirement after the routine of putting in 60 hr/week for years ... be prepared for that and support her through the transition, which I'm sure you will.

Before today I actually thought I was a pretty good landlord...provide a quality product...have all my tenants setup on routine maintenance visits, and even send out gift cards around the holidays. 

I know nothing about IL law, but putting a lis pendens on a property is generally routine and simple.

He mentioned doing a gift deal but at only $10k per person I need to find plenty of family members to do me a favor and I'm very uncomfortable to ask.

Did not vet tenants but they have been paying for a number of months and get along.Obviously, I would do more due diligence on the property but it brings up a point I am sure many are interested in...how do you go about assigning new responsitbities, rules, protocols to tenants who are already in said building with their own established contract and routines, etc.?

Mike, I have a very demanding job that requires not just the 7 to 5 but I routinely handle phone calls, e-mails, and meetings on nights and weekends.

As Jon Holdman routinely states "your home is just an expensive doo-dad."

The main issue is I am sort of uncomfortable with the seller seeing my assingment fee on the HUD-1 I thought title companies could make seperate halfs of the same hud1 (1 for buyer 1 for seller) that way the assignment fee only shows on buyer side.

I know the 1st deal is always the hardest and most scary, but once you have gone through a couple it becomes routine and in my experience you just hope nothing un-expected pops up - like mortgages, liens, judgements, etc - which seems to happen A LOT.  

The net sale price is the gross sale price less routine selling expenses such as broker's commission, title insurance (unless lender related), escrow/closing agent fees, recording fee, exchange fees, etc.