I do look for the good deals but you need to be prepared to move quick and have cash or be pre approved for a loan.

I feel your choice is the right one and you should prepare yourself for the commission way of life.

If your goal is to find cheap labor (which it should be) then be prepared to deal with a lot more headaches and excuses.

In any case, could you recommend a basic guide/strategy around what to expect and how best to prepare to capitalize on this opportunity (homework, how much capital, bidding, continuing to make the quarterly tax payments, foreclosure, risks)?

I like long term planning which is why I am posting now, so I am prepared for the future.I am mainly interested in buying and holding (I think that is the proper term).

You just have to be prepared to walk away if they persist in being unreasonable.

So I rented out my condo last July and I'm starting to look over my tax documents in preparation for filing.

Does anyone have someone they'd recommend to help prepare taxes in the Chicago area?

You'll be better prepared for asking questions of the professionals when their meter is running and can ask better questions, too.

Instead, I asked her to prepare comparative price analysis based on recently sold, recently under contract and current listings.