Now as of closing according to the appraisals we have $112,000 in equity in the properties, which leaves us with about $90,000 to pursue other deals when we find one. 

What kind of similar steps should/could we take to vet a property manager co?

I've seen a couple of potential deals in the southwest suburbs but I don't really have a good idea what to do as to what the next steps are to get the deal done as an investor rather than just a guy buying a house. 

In the span of a quick conversation I can calculate if the deal pencils out and makes sense to pursue. 

What steps do you guys typically take when analyzing an areas rent potential?

Now, I am in a position to take the next step.

As to them having custody of a grandchild, that makes it so much more complicated, hopefully someone else can step in and help with the child during this time of their lives. 

What would be the next steps?

Step 1: Where to find the properties.

If the flow is good, reconnect your lateral line to the water meter, and move on to the next step.