There is such a supply and demand issue in many markets that low rates will drive prices higher.

From it raining a lot the night before the property going active which brought to light foundation issues hidden behind the pre-existing finished basement paneling.

They can decide that offer #2 came from a contract lawyer and he'd be a good owner in the building since he can help them with legal issues...or whatever random reason they like his offer better. 

As for using a Wyoming LLC, it's a common strategy for out-of-state investments, but you might want to chat with a tax pro to see if it's right for you.

Put in a set amount at set intervals to minimize losses from buying at imopportune times.Hello James,Thanks for taking the time to respond to my post here - it's at least comforting to know that my Chicago market area isn't the only area facing this issue to the extent it has been. 

The equity potential of course, but mainly I was trying to solve two issues - on one end, the seller was struggling financially and needed to sell her home but investors were aggressively trying to take advantage.

I know this is common but I never have heard any podcasts, blogs, or videos talk about this. 

Common Types Of Seller Finance AgreementsLook for “For Rent” SignsWhile “For Rent” signs may not directly indicate owner financing, they can be a good indicator that the property owner may be open to creative financing options.

The equity potential of course, but mainly I was trying to solve two issues - on one end, the seller was struggling financially and needed to sell her home but investors were aggressively trying to take advantage.

LOCs are not too common in 5+ Unit MFH but if you find one, it may be capped at 65% CLTV.