Calumet Heights includes an area called Pill Hill, due to its history with African American physicians.

In my interpretation they will offer more money than the average investor then go back during the inspection period with a significant offer price reduction to be able to buy where they should of in the first place.   

Thanks for taking the time to share your input and experience.Follow up question:  let's say I do generate reliable quotes and present a price reduction to the seller.

You need an engineer more than an attorney on that.The short sale will be rather straight forward, it's a principal reduction not really a SS as homeowners would go through, you should be able to review the buyer side without much concern.If you have legals on each lot the development headaches are pretty much over.

Next, IOs aren't made as often on a long term basis, you may have renewal fees and be looking at future LTV requirements with no principal reduction.

Do you foresee any reduction in Sec 8 due to sequestration?

But I love what you call "difficult-to-fix problems"... those are great for getting huge reductions in the price...

The second already gave rate reduction.

@Raj Chandra sometimes the water company will offer a one time bill reduction if there was a leak.

Second- discount and payment reduction.