Typically I'm out every Sunday now as I'm searching for my 1st deal and trying to get to know the area.

Old house problems typical of New England.My next deal is most likely going to be a flip.  

Do you know move out fees are typical in Chicago?

One finished, I calculate it would be worth 1.2 M at a 8% cap rate, which is typical for the area. 

Typically, a Buyer will go directly to the Seller's agent hoping that since he/she is going through the same agent, he/she (the Buyer) will receive some type of discount since the Seller is saving on commission.

This is the typical 'value-add' scenario. 

Typical upfront fees would consist of Appraisal or BPO fee (3rd party charge) and maybe a document  deposit, after final approval is issued, to ensure that in the event of a last minute cancellation by borrower, legal fees are paid. 

Curious as to what a reasonable percentage down would I need? I don't have steady income so I can't rely on my work to get the rest of the loan. As in, I'll need a commercial loan, based on the current rent of the pro...

CMBS typically looks for 5 million and up.Mark

Not a typical scam where they take your money and run away but one where the value you get is significantly less than the price you pay