I don’t know about IL, but many states require you to provide details on how the security deposit was used.

You can also network with other investors in your area and see if anyone's willing to see if you analysis is accurate or not.

As far as the seller wanting rent, that could be them getting the security deposit back if that is not detailed in the contract. 

He held my hand through the finer details of getting this thing done and asked nothing in return! 

I am trying to understand something about the background history of a Manhattan building that was purchased 6 years ago by a developer in order to turn it into luxury rentals. Here is the current info: It was purchase...

You may want to include this into your analysis.

Hello!I'm looking for some residential construction intelligence in the Charlotte area.  Specifically the current competitive rates for new construction trades and materials (e.g. foundation, framing, plumbing, electr...

My initial projections based on a buy and hold analysis are:$1550 a month in income(Lots of assumptions here)$904.78 monthly expenses(Including maintenance, management, and the vacancy rate)$645.22 monthly cash flow23.45% pro forma Rate$9240 net operating incomex 50% for expenses equals $775Monthly interest/payment equals $124.78Total monthly cash flow using 50% rule equal $65082.90% cash on cash return on investment30.90% purchase cap rateTotal operating expense $780 dollars a monthAs I stated earlier, the house is close to downtown and the State University.

We're now interested in the dirty details that people have gone through using the 203k loan.

First step is a very rough estimate to see if the property is worth evaluating further, next is a detailed estimate on your own when you go out to view the property if you do so that will decide if you want to make an offer.