Based on the numbers you provided and making allowances for vacancy, taxes, utilities (water/sewer ... unless you bill it through) and maintenance, you would need to be able to rent the house for $900 - $1100/mth to make it work at the price you plan to pay ... even then things would be tight and you won't make the same level of return you could purchasing a blue-chip dividend stock.  

Welcome to the team @Dustin Oaks !

Thanks to each and everyone of you who took the time to chip in.With that being said, any advice on how I can find deals of MLS?

Our renewal is coming up and I found all the outdoor paint that I painted last year has started chipping.  

The paint inside the home is in good shape with no flaking or chipping.  

https://www.hubzu.com/property/0007147205368-4-N-751-White-Oak-Ln-Wayne-IL-60184http://www.zillow.com/homedetails/4N751-White-Oak-Ln-Wayne-IL-60184/4353553_zpid/I don't plan on buying this property today, but I've been searching in the Chicago area for a flip and came across this place.Wondering if a few here could help convince me why or why not this property would be a good candidate for flipping.I know the reserve hasn't been met, and haven't seen the property in person, but the neighborhood values seem great and repairs look mostly cosmetic.Thanks

Vernon, Oak Harbor, Marysville, Everett, Tacoma, Olympia, Kent, Puyallup, or wherever it make sense.  

Does this mean that because of this location, I will have to pay a higher price for the same stock (read: property) than if I were buying in a less desired or popular real estate market (read: blue chip stock)?

Welcome to BP Adam Schumacher seems we are looking for the same type of property, that's a great question, I will wait for the more experienced to chip in..

I believe they meet on the third Sunday of the month in the Lombard/Oak Brook area.