Are there wholesalers in your market you can ask if you don't want to talk to a lawyer for some reason?

Study the market.

Inside track to properties before they go to market/general public.2.

Recently a duplex came on the market that I am really interested in, it is located in an A neighborhood.

At that percentage on that rent amount I suspect it is not all inclusive, but I do not know that market.  

Uptick in action in the secondary mortgage markets I suppose?   

In this market, I would not finance a first time flipper at 75% profit split because the profits and success rate is lower than the last dozen years.  

Leverage - someone mentioned Real Estate doesn't beat stock market returns and while that might be true in absolute terms, it's definitely beat the market when you consider leverage.

Most of these course instructors aren't qualified to teach anything but the most elementary real estate concepts and try to make their courses more marketable by teaching concepts they have no business teaching. 

Use a quitclaim or warranty deed to transfer the title, and be prepared to pay Chicago’s transfer tax, calculated at $7.50 per $1,000 of the property’s fair market value.