Appraisals are done by people not computers, and those people do not want to gain the reputation of killing deals by coming in too low.It sounds like you have already done your own research and determined what you believe to be the property's true value.

Get educated then pick what you feel most comfortable with then educate yourself some more. 

 Hello everyone, I'm an Illinois newbie in this business, and I'm not sure how to introduce myself; I have a full-time job (mech. designer) that pays my current mortgage, and I'm determined to join your club.

The reason for not picking him is he had a unsteady history, he moved around too much, lived in several places within the last two years.

For example, if you are cash flowing $400 on a $225,000 purchase, assuming a 25% down payment, the ROI is $4800 / $56,250 = 8.5%, which is realistic.Also, I would consider creating a budget that is longer than 1 year and determine the average ROI. 

To conduct a no-fault eviction (taking properties off the rental market/moving in family), you're required to pay relocation fees determined by the RSO which ranges from about $5k-$21k which is determined on whether the tenant is over 62, disabled, been in the unit for over 10?

Will things pick up again?

Determine the ARV ($141,000)2.  

I ask the management company to reach out for any expense over $500 and whenever there is a vacancy so we can determine a plan of action in regards to what repairs/updates to make and how much to charge in rent.

Just make sure you are comfortable with the coverage amount.Or...Go to the MO website, fill out the appropriate forms to register your LLC, pick a local registered agent, and pay the fee.