Florida and Gulf Coast insurance should be a concern. 

Also concerning, I just looked at zillow post and the pictures are very grainy and unflattering, even though they should have access to the nicer photos (I have had these for years, see below)..I've also been getting lots of calls form companies wanting me to sell my house.

@Anca R. and everyone, thanks for the shout out.To simplify the process the best I can, I'll address and break down each concern. 1.

I really wanted to convert the residence to a rental property, but everything I have heard about doing so in Cook County has been very concerning.

Hopefully they will see you are not screwing around and will leave on their own.I hope you got a great deal on this property, because tenants in place are a liability, not an asset, in the Empire State.Now, who loves NY (besides our many "guests from out of town")?

However they made it clear that unless we would pay them something unreasonable, they weren’t leaving without a fight.

But I always leave the final decision to them so I'm not liable for their decisions. 

Would the 9-year balloon concern you, knowing you'd need to refinance or pay off the balance at potentially higher market rates in the future?

Would the 9-year balloon concern you, knowing you'd need to refinance or pay off the balance at potentially higher market rates in the future?

Seller wants $160,000 cash out which leaves $50,000 in equity for the buyer.I had a taker from CA but he couldn't come up with the cash.I was not aware of anyone that understands that kind of deal.