Make sure as an investor you understand what the horizon of the investment is and if the hold time is projected or that has been outlined specifically in the subscription documents.In my experience an operator is not going to "lock" themselves into a  time period to sell as it would open up significant risk if the market were to correct in that timeline. 

Reach in and grab the right tool, the correct strategy, and get to work.

@Teri S. ... and I could still have her move it into an LLC with no issues, correct? 

I could easily walk away with 100K in profit afterwards.My issue is, if I sell it, I'm going to get hit with a tax bill unless I dump the money into a new home, correct?

@Rhett Tullis, the lender in their inspection identified some issues that need to be corrected within the first year - funds to complete those put into escrow. 

Is this considered a market correction? 

@J Scott has it correct, you need to know ALL of the numbers to determine a good deal.

Chicago puts violations on title which is why a 203k loan or having the funds to correct at closing are your only options.Your agent should have explained this to you before going under contract.  

I've seen a few projects go bad based on these fundamentals but can be successful if done correctly.

I have ideas in my head but I am not finding the correct answers doing google searches.