We do some cosmetic improvements to bring homes to our standard, typically carpet and paint, upgrade lighting etc.

It just goes to show that at some point everything cracks.

What’s the main reason you wouldn’t buy a property I’m just interested in ways to strategize a good deal when I see one

Long-term renters want to buy at 550 as is, but can't qualify for conventional financing.

Or else reduce enough on price to deal with an eviction from an illegal unit.I don't know Chicago laws, but in NYC if you have an illegal unit, the tenant occupying it seems to have more rights than the owner does and doesn't have to pay rent... 

I don’t know what they expect to find.

I recommend requesting a review or a new appraisal that compares your property to similar multifamily properties in the area to ensure a more accurate valuation.

Don’t miss out on other investment opportunities to speculate on future rates.

The larger wholesalers use VA to skip trace and cold call saving them all of the work but you need capital for that.I recommend going to some events here in the DFW area.

I tell every Chicago investor who calls me about Milwaukee to stay in Chicago - the economic delta is just not big enough to take on the remote cost and efficiency burden.