If evictions occur, it's comes back to you anyway.Eddie Eddie, I think you missed the second part to my statement or misunderstood me, so I'll re-explain.

Corey.Have you tried going to local banks around you, see if they can give you a loan for the property? 

Explain you may still need to issue notices so that they qualify for assistance.

I'm also interested in meeting experienced investors that would be interested in working together on future investments.A little about myself:I moved from Florida to Chicago about 7 years ago and currently work in Finance at an investment bank downtown.  

I would try to explain your math to the listing broker or your agent so they know where you're coming from.

Why is he offering you 40% instead of turning to a bank / hard money lender at 5-12% APR plus a few points?  

If you attempt to transfer to an LLC, you risk having to pay back the loan if the bank finds the deed was transferred.

Regardless, I'm probably going to try at least the 3 local banks in town before finding other funding options.On a side note, why do banks have to "season?"

I retired 5 years ago from a 20 year career in banking.

I've got a friend who I believe is working with Key bank from out of state.