I am based in Bloomington-Normal, IL, just two hours south of Chicago.

 @Owen RosenI wonder how much of this is based on the insurer you have, the amount of properties they insure for you, and the type of claim you file for.

How much notice would you say is reasonable, considering they are kind people (despite being dirty and missing payment dates) and will have a hard time finding a place to bring their large dog.I'd given them written notice based on the rules for your area to get the process started (whether that's 30 days or some other number), and then tell them you'd be willing to work with them on the official move out date (within reason) if they need a bit more time to find a place so long as they are current on rent.

Is there a certain cost per unit I can expect to pay based on the condition of the building? 

Based on the limited info you provided, it looks like there is roughly $180k in Gain. 

I haven't been investing long but I have about 990,000 in equity (estimated based on sales price of comps in the area). 

If you’re in the real estate world in any capacity, especially if you’re interested in the same market areas (primarily Forsyth/Guilford county) then I’d love to connect and touch base! 

Not sure if interesting but my buddy just launched a real-time leads list for off market properties based on publicly accessible data: tax delinquencies, probate, pre-foreclosures...etc.

I’m also looking at a larger property in south Florida listed for 750k and can possibly profit 4K per month on airbnb based on my comparisons in the area.

No because he is a corporation, based on "Inc." in the name.