You may get knocked on here, but I appreciate that you share your perspective as someone who has done it and is helping others do it.  

The second flip should return us about 12%.From a newbie and part time BP user’s perspective here is my two cents. 1.If you don’t already have a copy of J Scott’s and Bigger Pockets book on flipping houses – get it ASAP.

From a liability perspective, I think that's the way to go.

We did end up renting to one of those applicants and they've been great so far, so I'm not saying to disregard all these calls as desperate losers or anything, I'm just saying to keep things in perspective and know how this process works.Personally, we like to keep our rents a little below market, for exactly this reason. 

I've looked at many occupied properties before from a buyer's perspective, but this is the first time I am selling one myself and am looking for a little guidance as to how to proceed delicately as the tenants are pretty loyal to me as a landlord and I am assuming aren't going to take news of the potential sale well due to the uncertainty of a new landlord and whether or not they will continue to honor the existing lease.They currently have about 5 months left on their existing lease and although I would love to wait until their lease is up before selling, at the same time I don't want to sell the place in the late fall/early winter.  

Thank you Stephen, for helping me put things back into perspective.

., but at this juncture what's most important is finding someone who is competent, has an investor's perspective and I can vibe with.

I am just giving you my .02c because I am looking at Chicagoland from a different perspective than you.

@Jeff McCaskey, Thanks for your fresh perspective, I agree!

Elizabeth,Thank you for the perspective, I figured that was the case, but I'd never thought completely through it.