Open ended contracts, particularly verbal ones, usually end badly.

Not sure if that is still legal or even translates in today's world of everything online but seemed like a good screening tool to me at the time. 

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Well, what would be happening is that your buyer would be buying your house subject to the existing note, since you can't legally sell the property without paying off that note or transferring the debt to the new buyer.

It is probably worth your time to connect with BOTH @John Warren and myself since we are both managing brokers, but John is more focused on property management and I am more focused on general contracting, but we are both Chicago investors as well.Oak Park and Lawndale are definitely two different markets.

I’ve visited every other property I’ve considered in the past, so this is uncharted territory for me, and it feels a little out of my comfort zone.I’m considering putting it under contract sight unseen to lock it up, but I don’t want to make a rookie mistake here.I'm looking for some advice here.

@Ryan Daniel  I will preface this with the fact that I have a legal background, specifically with estate planning and asset protection in relation to real estate investments.

Someone in the legal profession told me that we can give her 30 day notice and then proceed with an eviction. 

Our tenant would have a key and could assist people in through that entrance if needed.We closed, and at closing the developer signed a contract to install a door and escrowed $20,000 in the event they did not end up doing it. 

You can set up an LLC after you've gotten under contract on a deal!