Up until the actual foreclosure auction sale, it is like any other sale......you and the owner have to agree on a price, get it under contract, go to closing, buy it.....you’re just on a limited time schedule when it is in foreclosure.No one is necessarily going to sell to you for just what is owed, when they have a lot of equity.

Outside we were limited with the soffit, so could not set them higher.

Another item that most people don't take into account when comparing RE vs the SM is the fact that in the SM your losses are limited to the money you invest. 

Security Deposit in our case is one month's rent: $2,000Upon hearing our breach-of-contract request, the PM stated, "We are holding you responsible for the full term of the lease including and not limited to all rents , collections fees, broker fees , legal fees and any fees associated with the breach of your agreement.   

I'm based out of the Chicago market (a newbie) and am trying to get some help in narrowing down neighborhoods to focus on, whether that be within the city limits or the surrounding suburbs.What tools are typical in guiding your decisions to focus from broad areas of search to down to smaller neighborhoods of focus?

I'm based out of the Chicago market (a newbie) and am trying to get some help in narrowing down neighborhoods to focus on, whether that be within the city limits or the surrounding suburbs.What tools are typical in guiding your decisions to focus from broad areas of search to down to smaller neighborhoods of focus?

Note that some jurisdictions limit the number of non-related people who can live in one house.

It would be a good way to see if they would be interested and think of it as an open credit limit for you.

There are limits set geographically. 

If you are going to set rules, limits, etc, then you had better be prepared to enforce them.