I agree with @John UnderwoodPencil out everything (costs, equity, etc.) to create a truly equal partner.When they and you agree on this amount and they pay their part, then you have an equal partner.Of course, in this process, definitely use an attorney.Mike

If they are in the process of moving and you are only upset about losing a few days, you are probably out of luck unfortunately because they would be out long before you evict.

Current landlord couldn't pay the upgrades so we offered to do the upgrades until the sale was final and not pay any rent in the process.

All the investors just say “tap into your equity” but never actually tell you how to get that equity with the loan process. 

I’m in Michigan and I’m not sure of the LLC creation process. 

If you're unsure about the shut-off process, contacting the city of Chicago for assistance or confirmation is a good idea.Has anyone here used a professional service to winterize their property, and if so, was it worth it?

Ask the manager to explain their process for dealing with maintenance, late rent, evictions, turnover, etc.

Were there any surprises or challenges during the bidding process?

We are in the process of screening a tenant which of course includes verifying rental history.

You don't want to serve a notice incorrectly and then go to court for eviction only to find out you did something wrong and now the whole process has to start over again.