This is no longer an inexpensive entry to the manufactured housing industry.

@Austin Largusa The property and the lease/tenant are two distinct items...so, unless you are dealing with a property owned by the housing authority or their subsidiary, built with tax credits or receiving tax credits, it's not a section 8 property...and section 8 is really a mis-used term...it's actually called a Housing Choice Voucher and they are used across many populations from at risk of homelessness, to corrections re-entry...to house veterans, etc.

I'm most curious about the paragraph regarding possession as it reads," The successful bidder is entitled to and shall have possession of the subject property as of 60 days after the entry of this order against (defendant's names), without further order of the court, as provided in 735 ILCS 5/15-1701; That the sheriff of Cook County is directed to evict and dispossess: (defendants names) at the subject property (property address).

My wife and I are finally settled down, and have been looking around the area for multifamily properties to owner occupy as a lower point of entry and lessen the risk of getting started, as we would expect to pay that mortgage anyway.

Single family is a good way to get started because of the 'low barrier of entry', but it would be my personal preference to own one or two or five multifamily units that total up to 25 rentals. 

On the top of the window seals there is cracking on the corners on almost every entry way.

Hi Frank,You will be hard pressed to get a better "bang for your buck" in any other market.Low entry price, great cashflow and solid areas with decent infrastructure.The con's:1) Shady contractors2) Poor property managers3) Too many lazy and unresponsive agents Stay patient and do the work.I wish you much success

low entry price with decent rental rates, allowing for a cash flowing investment out of the gate.

Rust belt cities like Cleveland and Buffalo are generally, cash flow positive and have a low Capital barrier to entry. 

We will be closing off one of the entry doors to a large living room (the house also has a spacious dining room area) and adding a closet to create a 5th bedroom.