Make sure you have a solid lease in-place and can bring verified bank statements to prove rent and cash flow for the perspective property.If I could add, I would highly recommend at the very least talking to a community banker, before buying the property.

Exit strategy would be to either a) hold myself as a rental or 2) have an investor buy it and try to get 1 or 2k fee out of it (would like to go through the process to see how it works).An agent has verified rent in this area to be $1400 to $1500/mo.

I'd have somebody do an assessment of the property if possible to evaluate the condition to verify.

If you are going to the Parade on Friday, be safe. know there will be a ton of pick pockets so caution is the key word.As to networking, there are a ton of Chicago types on here, and you should hit up a few of the local REI Clubs.Here is a link for come clubs: http://www.biggerpockets.com/real-estate-clubs/illinois.htmlEach club has its own unique identity and "vibe" so hit a few and figure out which if not all that work for you.

Just like any deal however you find it, you need to do your due diligence to verify it is a good deal for you.

.- Verify rental references.

Lucy, call the customer service number for your Humana (not the number the "lady" gave you) and verify that they have people coming to your house.

Just have your attorney verify the authorized parties executing for the land trust.

If they would cash flow for you, then they should be cash flowing for the seller, since you're going to be in the identical debt position if you bought these.

My lease says I only have to give 10 days notice and I've verified with an attorney this is legal.