Also, happy to help point you in the right direction / answer any questions you have as you go into your first BRRRR!

Pretty straight forward by just answering all the questions.

Chris already answered that question stating "If you want to be a real company/syndication then do it the correct way". 

Adding to @Bruce Woodruff: I found this on the Illinois Government website: "If your change decreases the tax due to Illinois and you want a refund, you must file an amended return (claim for overpayment) within three years after the extended due date, three years after the date your original return was filed, or one year after the date your Illinois tax was paid, whichever is latest."

This is an answer I have with my very limited knowledge of the subject, but hopefully it helps.

I love that you are looking to get started and would be happy to answer additional questions for you.

Hello Dave Foster and contributors,Thanks very much for your answer to my question.

But I’d be happy to answer any questions you might have.

Anyone dealt with this and were you able to get the seller to commit to their original asking price?

It really comes down to what lets you sleep at night, there isn't really a right answer to your question.