Does it make sense to apply with multiple lenders and receive multiple credits checks in order to nitpick the best offer?

It does a good job showing all the action your numbers receive... it can also integrate with podio for free (using the globiflow extension) and every time someone calls your number podio will automatically update and it can tag it as an absentee owner list or driving for dollars list, etc.

If I fund the reno (during my lease period) and I don't end up purchasing the property, I will be out a great deal of money without receiving the reward of my extra investment.

Tom Anderson if in doubt about a contract or even a bid price, pay a lawyer you trust a few hundred to negotiate the different bids you have received.

I also received your direct message and will correspond with you further on there. 

Some can still do really well but a majority might make under 100k a year.Can you just find someone to go do the tour and document with pictures or something?

In addition, they are either 100% occupied and receiving rent or 100% vacant and a big expense, where a duplex can be 50% occupied and when you have turn over or a non-paying tenant you still have some rent coming in.   

You are the one receiving the payments.

How can I become a court appointed receiver in the state of Illinois?

If student never takes title and parents pass away, student will received a stepped up basis in the property at the time of death meaning that the student can then liquidate without paying a cent in tax.