He claimed that they had properties ready to sell to me and the 10K was to recover their costs on work that had already been done to prepare the property for me. 

@Clare Pitcher we do 12+ month leases to avoid vacancies Nov-Feb.If we take over an occupied property, evict or have tenancy-abandon a property, we first let the owner know finding a tenant will take longer than "normal".This opens up owners to understanding they may need to:1) Offer 3D tour and floor plans to stand out2) Price more aggressively or be prepared for aggressive price reductions3) Offer MoveIn Specials:- NOTE: we do NOT recommend offering a month of free rent that can be used at MoveIn.

You are preparing to give them $3,000/$6,000/or maybe $9,000 when they stop paying.

For near term investors, be prepared for sizable down payments to reach a cash flow neutral stance no matter how far out you look in the suburbs.

. - You've got some pretty solid information above and concurrence that it shouldn't cost nearly as much as you thought, but on a separate note, I'd like to understand your situation a bit better.You are currently just looking for a Chicago property to purchase and asking the quit claim question in preparation for closing? 

Hello everyone,
I am currently working through a challenging financial situation. I have high-interest debt with a 28% APR that I need to pay off before focusing on saving for a home with my current income . To addre...

However, it’s important to price competitively and be prepared for buyers to request concessions.

Be prepared for trial runs with several different candidates if you choose to hire a handyman to make sure they turn out to be qualified and dependable.

They literally went through each operating agreement and prepared an email listing out each member of each LLC and clarifying they each had to guarantee the loan despite the fact none of those entities were even being used for the purchase (which was previously explained to Dominion Financial). 

If the numbers don't work after taxes, you've got to be prepared to walk away or get creative with your offer.