Does that clear up the financing issues?

I've searched the security deposit laws for Illinois and haven't found a clear answer.  

I hear this question a lot, enough to write a blog post about it: https://www.biggerpockets.com/blogs/8160/70595-i-h...Also, until we discovered our passion for wanting to invest in real estate we really didn't have a clear goal.

Thank you Jonathan, that cleared a lot up for me.

Go for the $$ and not the property to eliminate any guilt you would feel over the previous owner having to be evicted out of her home.This was clearly the bank's fault for the misstep in procedure, so better to go after THEM for payment, not the owner. 

Tianyun Zhang I could be off base here regarding your last comment on “stock market is the real casino”...but just to be clear real estate isn’t any less risky then the stock market.

The GIS maps (can't find the plat on file) show that the parcel boundaries according to tax map and the parcel boundaries map appear to be fully in the clear for the driveway, house and 2 car garage shown below.

Basically, your actual loss will be made up to you.Sounds like this is free and clear, which is great. 

I wanted to clear a few things in case It happens again.In a deal like this, how do you guys deal with the HOA, meaning, do you investigate about active/potential special assessments?

(rappalaw.com)He has 25 years in the business and has been a great asset to my business.Disclosure: I retained Henry to be my broker of record for Clear Sailing Realty.