Joshua:If you want to know how to correctly fill out forms and handle your double closing, those are questions to ask of your closing attorney.

Without knowing what part of Illinois you are in I cannot give the correct advice.

You should also bid you struct, MEP, civil also.

There are a lot of scary similarities in the market right now as in 05, 06, but agree that the shortage of affordable housing (builders are just now starting to build them, way after the fact) and labor shortage (kids uninterested in the trades) will delay the arrival of a correction (agree it will come eventually).Plus the employment base in Phoenix is much more diverse now than 10-15 years ago (construction & financial) to a lot of technology and corporate support services recently added. 

I read this section as the tenant needs rental insurance and includes a box for an amount that they may have no less than.My first question is am I reading this correctly and it just says the tenant must carry renters insurance?

I would probably start with soliciting 3 bids and use an average amount on my evaluation of the subject property. 

At BiggerPockets, you can take advantage of the free knowledge and resources, network with other real estate investors, and get your deals done correctly here.Also, I would encourage you to join a real estate investing club in Marietta once you get settled in.We are happy to help in any way we can. 

I'm using a real estate agent, who is registered with HUD and can make bids on my behalf.

You are correct I didn’t ask him to specify.

Contractors' bids differ from city to city and sometimes their schedule dictates their pricing.