The cash flow that you need to achieve should be based off the rest of your portfolio and your financial situation as a whole.

Quote from @Patricia Steiner: There are several lenders who offer low/no closing cost options for first time homebuyers.

Offering a rent-free period helps the seller stabilize, but what happens if they still can't afford rent when the time comes?

Sellers had multiple "accepted" offers and all were placed in interpleader accounts. 

I would recommend you begin researching Chicago based meetups as there are a bunch of really good ones.

My name is Sonya Waites and if you have questions, I don’t mind answering them based on my own personal experience.

I’d appreciate any input you can offer on everything from financing to construction challenges.

Based on the numbers seems like it was a straight forward conventional loan...any challenges?

If they need access to the property immediately, you can offer to leave to them until you are ready to close. 

Although I find competition for what I call investment grade parks is quite keen.. so returns are more in the MF space.. when you venture out east from the west coast or look at low end parks returns are higher but management is quite intense.. as our dealing with some pretty scruffy tenant base.