Since I've never lived in my rental houses (and I'm paying abnormally low electrical rates when these are empty...just to keep the frig going, air when showing a place, a few lights, etc.)

@Kay Ferdous The insurance figure seems to be a bit low.

I can purchase it on cash basics but I don't want to loose this property if I bid to low .

Im really not a fan of your plan, are you unable to borrow at a bank, the Commercial lender at a small community bank generally can close fast and at a low cost, I can do 6 mo ir 1 year Interest only at 4.5% on a 20 year amm, i need 20% down and fund fix up, but they would also do a loan based on ARV, and you put 20% of ARV down an they fund purchase and fix up.   

And that banks have a seasoning period? 

Some will lend on that after a short seasoning period, say rehab the property and get a tenant in it.

All of our properties are fully renovated, including upgraded electrical, plumbing, water and heat, to ensure low cost on future maintenance.

I've also read Brandon's book "investing in real estate with no or low money down" and his investing for beginners books a couple times.

New to the REI community and looking to get some great guidance and advice from the seasoned vets and learn as much as I can.Have been doing some initial research into Multi-family, buy-and-hold, (>,=2 units) in the Chicagoland area (mainly western suburbs, Brookfield, LaGrange, Downers Grove, Wheaton, and the like) and found some units with potential.Here's my current question:I've found a property that I believe has some potential.

Rents in this area for 3 bdrms can go from 750 or so on the low end and up to 950 on the high end.Id like to keep one apt and use the comm space(i have an idea).ANY HELP AT ALL WOULD BE SOOOO APPRECIATED!