Inspections are worth their weight in gold.

Look at oil at 150 and gold.  

It will actually cost you LESS to get the carpet simply removed and if there is hardwood underneath you have struck gold.

For someone with 0 exp and no capital this is like finding a pot of gold. 

A really good tenant is worth their weight in gold, so if you have one lined up,  and you've verified everything, I'd get a signed contract and deposit ASAP!

If you have a condo association that allows for short term rentals in Chicago you are looking at a gold mine.

Some are genius and worth their weight in gold, some are just holding motivational rah rah events upselling their next event which will do nothing for you.

I have my license and cannot begin to tell you how much it is vital to  become an agent.

@Maria Wilson I have been using ResidentResearch.com for years and have never had any trouble with them.Credit, criminal and eviction are one one report that is $26 foe each person.I think they have an online application but I like the hard copy with the tenants signature and vital information should I ever need to go after someone for non payment.

I know that being out of state it is vital that I find a strong property management company and a good realtor that works with investors.