Any suggestions are appreciated.I have about $50K in saving and could potentially get to $100K in cash for my very first real estate investment.

Can I assume reserve price will be the same 180k or do you think FM has a formula in place in which they are ok to let go at X% below their "purchase" price so as to not be left with the house on their hands ?

Quote from @Michael Soukup: Yes, I recommend you pay off all your debt first before investing in another property.

In Mexico, as you know, when you rent to visitors, you generally don't do LTR.

The only reason I've heard of Morris Illinois, is beacuse our family used to drive to central Illinois to camp and boat, and Morris is directly on Route 47.Are you currently investing in Chicago or near you in Joilet Account Closed?

There's a good chance the issue(s) you face has already been discussed and answered.Ask questions in the appropriate forum.

It could be found in any market.

maybe once in a while / once every few months, something will hit that would work. 

Investing as a limited partner/ passive investor is a somewhat risky endeavor whether it in private placement or in the public markets.  

In any area the quotes should all be within 5-15% of each other.