I am in no way advocating that people need or should sell their rentals its a personal decision on my part. at one time I wanted to own 5,000 doors and had things gone a little different I might have actually got there.Now other opportunities have surfaced over the last 5 to 6 years that are more fun for me.Also my kids Grand kids have no real interest in landlording.. and I have invested in path of progress dirt in some stratic areas that will more than take care of their future schooling and other needs and if one comes in .. they will actually probably be set for life with no work on their part.. just sell to a big developer and call it a day.. those kind of deals have about ZERO interest to most on BP who are cash flow driven or think or want ONLY cash flow.. so no need to even go down that road.I do believe and have seen over the years that 75 to 80% LTV if you have to liquidate is really no equity at all.. given sales costs buyer credits home inspections that require work up dating and recapture..

There are lots of resources online but everything is pretty segmented to the process. 

I think you have 10 days from the date of purchase to have that done.

Which date works best for you?

But now i am really unsure how to run the comps and if the contract/agreement forms I found online for Illinois are good to use.

I like;Broken windows, chipped paint, old carpet, dated bathrooms and kitchens, really low rent,  lots of trash,back taxesI don't like;Bowing basement walls, a roof that looks like a shaggy carpet, tilting houses, single pane windows, missing copper, missing wires, weird layouts, houses next to railroad tracks 

or wait until the deadline date?

Then if you want, they can pay the whole rent and filing costs to stop eviction if they do it before the court date. 

Depending on the county you are interested in they might have examples online, if not you can call the clerks office downtown and they will have someone that can walk you through the site. 

Looking forward to meeting people and some of the meetups in the area and online!