With this latest news, I'm thinking that maybe I go ahead and move on. 

If so, these can be great places for single-family rentals.But here is an article that may help you evaluate potential markets.https://www.turbotenant.com/blog/the-best-places-to-buy-rental-investment-property-in-2020/

@Kimberly Kesterke Great news!

Lots of great, free information here, be sure to check out the podcast, articles, youtube channel and search through the old forum posts for great nuggets of info.McHenry county is a great area, def some desirable pockets there!

However, since I posted this I've stumbled on the perfect article that explains the difference between UBC and HUD and now I understand the difference between the two.

Feel free to reach out if you need more help.Also a few helpful articles for you:https://www.biggerpockets.com/member-blogs/10850/84064-what-type-of-investor-to-be-when-i-grow-up-active-or-passivhttps://www.biggerpockets.com/member-blogs/10850/87614-interpreting-the-private-placement-memorandum-ppmhttps://www.biggerpockets.com/member-blogs/10850/86626-the-pros-and-cons-of-investing-via-real-estate-syndication

The population looks low, but the percentage of renters is almost double the statewide average, so that's a good sign.As another check, I like to plug the neighborhood's name into Google News and see what kind of stories come up. 

Here is an article that I found on the Veteran's United website because I am trying to do the same thing:https://www.veteransunited.com/valoans/va-rehab-loans/The article states:"Here's what you can do:Repair or add new windows, doors, or sidingRepair or add new roof or guttersInstall new HVAC systems or water heatersImprove insulationWeatherizeTreat mold, lead paint, or moldMake updates to improve energy efficiencyRepair or replace the flooringRepair or replace electrical or plumbing systemsAccessibility updatesIn general, the project has to improve the property's livability and value and must become a permanent part of the home."

Read the daily news paper for the local area.

I read an article about this https://www.bradyware.com/combine-home-sale-gain-exclusion-with-like-kind-exchange/  but it does not answer to my specific question.Thank you