But don't let this guy take advantage of you, you have a business to run after all....you need the money, your family needs the money. 

I was thinking - go ahead and sue, when discovery comes into play and they have to testify under oath (for example were they raising money properly and how were they managing money) - many will not want to answer that question while on the stand. 

I did this because it was an easy way to save money after I bought the place, but now I'm stuck with the renter's furniture choices, and he would have a hard time moving out because he has so much stuff.Finally - if you plan on moving, then you may want to let the renter know that. 

Your purchase price of 215k would be a bit higher which could cause you to lose money on the property.We have flipped a bunch and notice that even as a broker trying to be conservative in our ARV estimate, can still sometimes be too high by 5% (worst case 10%) in some cases. 

Electrical work was done in the past 10 years, all romex.I don't feel so confident about this deal since my last deal was 350k purchase price, 100k in renovation and 700k sale price but I need some place to park my money.

You should be looking at Chicago REIA groups where there are investors and money.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

If you fix the inside of the house spend a bit of money on the outside. you don't have to break the bank but make an effort.  

Always hard money lenders at the meetups and normally some wholesalers as well.Just remember your best deals are probably not from wholesalers, but the deals you generate yourself. 

They retired because the rent covered the payment and left money in their pocket.