Some of the materials we choose and asked him to pick up (such as flooring) he replaced with low quality materials, I assume to keep more of our money for himself.

Once i move out and rent both units the income will be $2300-2400 a month, leaving 400 for repairs, maintenance, vacancy, etc...  

I’m currently repairing my credit and studying up on different methods, so I don’t think this would be an option for me right now but I’d love to find out more to keep it as a potential option int he future.

If you buy in higher quality areas (higher income, credit score), you’re less likely to need to evict.

Having a single Illinois IRA LLC and just getting quality landlord insurance would also likely be a fine option and would be simpler to manage. 

.  ;-) Minor repairs, that are not maintenance related, can usually be done by a handyman.  

I am also looking for a handyman they can do general repairs.

Loans are much higher quality today than they were years before, and the economy is hot.

The property needs A LOT of TLC, detailed out below.Purchase Price: $129,000.00Renovations: $63,120Monthly Rents: $1350.00 per unit, tenant also pays electric, sewer/waterI could certainly use some practice in estimating repair costs, so here are my assumptions for repairs that will be required based on the photos available on MLS.

Unfortunately, the settlement wasn't the only problem with property (voids beneath slab, issues with plumbing, "interesting" repair techniques, and a whole of lot of other things that added up to a "no" for me at the price and my current experience level).