Additionally, they cut a small hole in the fence so SDG&E (the utility company here) can read the meter from the empty lot.

They will be helpful in this situation as they can run through the numbers with you specifically and see if your rowhome makes sense to rent out or liquidate. 

You could use that time to call expireds or FSBO's. 

What's your liquidity need?

@Jonathan Klemm, to answer your question my next steps from now until December 2022 is to bulk up my savings (my goal is to have 50-60k liquid to begin my search), research neighborhoods actively (I have a tentative list but sine I am originally from NY I'm still learning, research which folks  I want in my team (investor friendly loan officers, real estate agents, etc.), keep working at deal analysis so by the time I'm ready to buy I can run my numbers, and finally explore other options to investing in Chicago.

One thing to note, for tax purposes on a long term rental (you mentioned multi-family buildings), the LLC is discarded for federal taxes and all income and expenses just go on Sch E on your tax return.  

@Rebecca E.

Just treat your tenants honestly and fairly.Dear Tenants, your lease is due to expire in 60 days.

Hello all,Have an offer on a property, since I am using the property itself for the loan I am wondering if the lenders I am prequalified with only offer loans with rates/terms I am unwilling to accept, would this trigger the liquidated damages clause? 

Investment Info:

Single-family residence buy & hold investment in Phoenix.

Purchase price: $194,764

Cash invested: $39,436

Bought another primary residence and turned this current one into a rent...