Again, the BiggerPockets store has some books for this or you can learn by watching podcasts, reading blogs, and interacting on the forum.

Check out this blog post with some more info: https://www.biggerpockets.com/blog/real-estate-wholesaling-new-legislation-illinois

My big worry is even if we figure out a way to make this work for us today, if we had to liquidate it in 3-5 years we would have a hard time getting anything out of it that we put into it in terms of modest updates which it sorely needs. 

I wrote a BiggerPockets blog about 3 simple ways to analyze a small multifamily deal and house hack, it's on my BP profile or I can send you a link if you want... 

check out all the awesome information here on BP reading the blogs and other forum threads that have discussed these topics.  

Do I buy a modestly priced house to live in that needs a little TLC and rent my current house out for cash flow?

utm_source=search&utm_medium=internal&utm_campaign=books (books recommended by BPers)Simply, bone up on the areas that you need to expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.Feast on the Podcasts, #askbp Podcasts, blogs and webinars Lastly, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.

Relocation Assistance (California Law):  "https://www.flgch.com/blog/wha...Due to the housing crunch in your state (we have it here too), Landlords with "no fault tenants" can be left with paying one month's rent to the departing tenant for relocation.  2. 

The down payment on a modest single family home here in the Boise area would be about the same amount. 

You can learn from forums, blogs and especially from the experience of like-minded members here.