thx @Andrew Postell & @Aaron K.It almost sounds like you, as the now seller have to create this value while adhering to neighborhood statistics, quality of products used, etc.Let me ask this, do you guys trust Zillow and the likes to be somewhat accurate on home values in a given area?

If you have a triangle with time, cost and quality as your 3 point, you will give up some on one area and it will cost you in another area. 

I'm guessing they are some kind of 2nd quality product that didn't make the cut at the manufacturer. 

Quality and experience should be your first look, then prices and terms.

I feel as though you’d have to raise your price in order to find good quality multi family homes in Chicago.

Are their listings detailed with good quality photos?

If they do the work, get it done, and it’s quality work I wouldn’t risk it.

I guess I try to avoid from MFR since they have higher vacancy rate and lower quality tenants. 

They too might be interest in earning 8% + on their money vs. 1-3% on a bond or CD, especially if the investment in secured by a quality piece of real estate. 

If she took the max of 200K out and tried to buy used, the quality of the home would be sub par.