They have failed to renew my entities with the Secretaries of State multiple times, have billed me wrong amounts, and GREATEST OF ALL, have cost my business ~$50K in cumulative TAX PENALTIES due to negligence in filing for a tax extension, failing to walk me through my tax filings and needed payments, and failing to file an abatement promptly.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

The investor generally needs 6 months of "reserves" or savings of mortgage, property taxes and insurance (and HOA if applicable).

And that's assuming those two years of tax returns show enough income to qualify, so you don't want to get aggressive with deductions.3.

I found commercial building on LoopNet and want to explore buying it. 

Yeah the IL property taxes are one of the biggest downsides of buying in Illinois.

Building codes and all that from your big city investment world are out the window. 

$300K should allow you to buy a duplex/2-unit and both doors should be offering a profit even at 15% down.If you are in a situation where you are getting hit with high taxes, high rate, low rents it might be a "Walk away deal".I have to have conversations daily talking people out of buying a particular home because its a bad deal.

I’m trying to build different streams of financing, which is why I’m trying to find private money lenders.

How long has it been listed and are there other units in the building for sale?