No contractor will work for free and agree to simply share profits.

The houses in central Il are not very expensive compared to other parts of the country, property taxes are crazy high though. 

We compromised and agreed upon getting a 4-plex, living in one and renting out the other three.

@Andrew Postell I agree the equity in my places is not doing me any good and I would like to put it to work.  

Mine's over 800 and I couldn't care less.I agree the requirements to get a fannie loan are complete crap.  

As it's now use-or-lose money to them, so long as you can offer a superior stay compared to a hotel then you're in business.As a furniture rental company for TDYers, we work with a lot of furnished and unfurnished apartment complexes and homeowners throughout the country to provide furniture for their occupants.

I agree with the comment, let the numbers be your guide.

I would agree that tankless doesnt make sense for rental. 

I would love to get the property on the cheap, or even have them agree to seller financing, but I haven't yet mustered up the courage to call. 

I'll agree with most posters here (and kudos on just letting some not-so-helpful comments just roll off your back, no need to waste energy there).