You could try managing from an hour away and if it works out stick with it, if not you can always hire a property manager.Elmhurst is generally a better area, but houses are also usually more expensive, so you have to weigh that and see if you would rather get more house for your money in a cheaper area, or a nicer house (and nicer tenants) in a better area.If you do decide to manage from afar then I would say stay out of C areas.

I've heard ranges before but I'd like to hear from you guys.your in the ball park  lots are usually 1/4 to 1/5 th of the sale price unless your in the SF peninsula and there they are invertedlots are 2 mil  build 750 sell for 4 mil..  

You also get a little premium for having "hardwood floors throughout" Typically when folks are shopping for hardwood floors they are looking at #1 or Select and they usually run at 8-9sqft installed.

Apartments are usually booked fast.

@Quandra Adams as long as you meet the terms of the contract, usually owner occupy for one year, you can do it over and over again.

Which I've come to learn usually means, "how did you know? 

Need home owner insurance recommendations my usual agent not going to work out on this one.Thanks

According to a Mentor that has taught me very much says that your 1st offer usually is the best/highest. 

Depending on the type of property and the market the 50% Rule is usually fairly close for expenses.How accurate is your ARV? 

It is still possible but the amount of red tape you the lender/seller have to go through usually makes it cost prohibitive unless you are a big time player.