In a D or C neighborhood tenants don't have much to lose.

Getting everything legally set up before raising capital is very important. Underwriting deals from 20+ units to 100+ units and learning how to present it to passive investors is an art. Having the legal side of thing...

If you plan on raising capital from multiple investors, you'll also need to deal with the securities aspects of Reg D or others.

I definitely would not recommend D (or even C-) neighborhoods in Joliet.  

I also think there's quite a big difference between an F area (war zone) and a D or D+ area, but the nuances might be lost on most folks just giving these areas a cursory look.  

They said if I sent in a bunch of pictures and an “Affidavit of Property Value” stating why I think the property is only worth $2500 they would consider providing a partial release of lien for the subject property as long as the seller would sign over his $2500 to the DoR.

@Eric D or @Eric D. 

For lower end single family homes (D or C-), I'd contact an All County franchise.

Not ideal of course, just trying to figure out plans B-D or E if I need to.  

Also a guess that the PA DOR won't spend much effort in finding people if there are few instances.