Realistic expectations when investing in a $30K property in ChicagolandIn Chicago proper the location will be a challenge and the property will most likely need a full gut or a teardown.

I think the best thing to do (and the proper answer to your question) would be to call around town and see what your competition is doing.

It is in KCMO proper, or outside KCMO? 

If the vapor is coming from the soil, wouldn't the proper way to remedy the situation involve actual soil removal/clean up?

She is extremely rude, constantly bothers us about coming in to just fiddle around multiple times a week(with proper notice), and has been trying like crazy to break our lease.

@Dexter Harris Your numbers look good, but the deal doesn't make sense unless there are value adds that aren't properly accounted for. 

Having the proper security protocol in place can reduce the number of problems you'll have. 

I'm new to analyzing deals, but $2500 seems really low for a $420,000 properly.

I’m sure other people will as well.People don’t “always” form an LLC to buy real estate here in RI but from a liability perspective the consensus seems to be that a properly formed and maintained LLC is the best mix of liability protection, tax benefits, and simplicity. 

I would consider allowing them to break lease if they had an extremely terrible home situation where family were dying and needed their care (which I've already done).However, we can not abandon proper business protocol in the face of hardship.