Also, starting my journey in real state investment made change my mindset and since last year I have been more disciplined on my finances and I have been taking better decision on how I spend my money. 

I was trying to find more Information through the forum, but couldn't really find the answers i was looking for.So, I was searching in Lake Harmony PA.

Send me a DM so we avoid cluttering up Kent's thread, I'll send you the information. 

Thanks so much to everyone for all the helpful information—I really appreciate it!

Because you already invested and presumably can't get out, your brain will automatically be selective and tend to trust the positive information and ignore bad information.

Welcome to the community and be ready for a huge amount of information at your finger tips.

It would be smart to do a full lease audit, estoppels issued, and tenant interviews.And if you are buying cash, there is nothing mandatory, since it is your money at risk. but again, physical condition inspections, understanding of tenants (they are a great source of information about issues with the property that the landlord may not know or may not disclose), surveys to understand accurate property lines, etc.

It's chalked full of information, calculations, and advice.

. - You've got some pretty solid information above and concurrence that it shouldn't cost nearly as much as you thought, but on a separate note, I'd like to understand your situation a bit better.You are currently just looking for a Chicago property to purchase and asking the quit claim question in preparation for closing? 

God forbid if something bad happened to the tenant because of this, you'd be on the hook for negligence because they informed you of the problem.