If it's a good deal if I turn it but a loser at current income levels versus what the seller wants then it's a NO GO.

And it seems like these "professional tenants" seek out owner-landlords versus property management companies as they know many individual landlords don't run the proper checks.  

Also look up portfolio lenders in Illinois.Buy-hold, if possible versus flip / wholesalingThis allows you perform work in stages :--------------------------------------------------------------------------------------------Paint: yourself, associates, and family members Windows - okay , for $400 each maybe outsource ( save yourself time )Landscaping - yourself, associates, and family membersAppliances- not for rental or less it's normal in your market.Refinishing Cabinets- $200 est <- I would like to see pics of finish work.Flooring <- determine what your market dictates and durability.buy-hold -> rinse and repeat , if possibleScale at your comfort levelJust my two coins/cents

I have seen some owners do 20 units but they are real stressed and constantly fixing issues.Doing PM work for single family houses,versus 2 to 4 units, versus 50 units plus is all different.

Some houses might face a busy street, have a flat yard versus sloping, next to power lines, etc.

I also was thinking of having retail picture on one half of the screen and then an apartment building on the other half versus all apartment for the background.

Depends on your time commitments and pre-tax annual cash on cash desired for your alternative investments versus the one you currently have.The question becomes how hard you have to work for that 1,000 a month cash flow??

Everything depends on the investors goals.Living there versus not and needing the cash flow today or just wanting a quality asset to break even hoping for appreciation on the back end.

Just out of curiosity, what are the advantages and disadvantages of taking the 15 year loan and owning free and clear in retirement, versus taking the 30 year loan and still paying debt service when you're retired?

Check actual versus stated rent.What I mean is if they state 1,500 but gave first months free to move in then the real actual rent is 1,500 X 11 = 16,500 / 12 = 1,375 a month.