@Daniel Sprague I drive a lot for my job, you might want to listen to the bigger pockets podcasts.  

I scrape my data directly from the county GIS server though, and it's basically the same data, although I have to figure out who's an absentee myself by comparing addresses (and the conventions like St vs Street aren't always consistent so it's harder than it sounds).You can probably just go to your local assessor's office and see if they can get you a spreadsheet.

ThanksThe basics of the deal:3/1 1246sf ARV $115k Repairs $20kAsking $57kPotential Rent $1000-1100

With the new construction, there is no value add - you're basically buying a TK solution.

I am interested in this sphere and would like to learn the terminology, how to do the math and all basics of RE. 

You need to learn some basics before moving onto such complex transactions. 

The fact that the shower works and basic bathing needs are taken care of is irrelevant.

This is basically just a case of combining mortgage planning with tax planning.

Lots by themselves often don't appreciate short-term, in my opinion, unless in very hot areas (CA, Pacific NW) or something drives the demand suddenly.

You need to know your numbers and you then will know what you consider a good deal.And no, 250k for 3 or 4 housing units in a good neighborhood of Chicago is not possible unless it's a gut rehab. 250k is the price for a basic 2 bedroom condo in a decent neighborhood.