The townhouse we are looking at has a Certificate of No Harassment in place, open violations and a vacate order.

In the olden days we used owner financing and even subject to financing when we were young and poor.

We lived in the country, across the street from Welkinweir.

Purchase price: $110,000 Cash invested: $150,000 This is our first deal as a full family (Parents, sister and brother in law, me).

It would be wise for a buyer to feel confident that the building is in good structural condition, that it has a certificate of occupancy.

I do not think options 1 and 2 are mutually exclusive, in fact I think you should do both. 

most contracts your 5k is your liquidated damages in most contracts. .. so snag that fire the agent and find another buyer if 13k is that important to you.. for sure not worth hiring an attorney for. 

You could start by reaching out to any local corporations that do assisted living in your area and see what they are looking for (location, space specs, etc). 

You can also check meetup.com or search Facebook for real estate investment groups, clubs, or meetings in your area.

Quote from @Becky Donner: Hi, I am looking to expand my portfolio in Chicago by investing in two or three bedroom apartments and or multifamily.