Should I have a appraiser walk through with me or an inspector?

I don't recommend doing that with just anyone, but once you trust a team on the ground, it's pretty easy if you have a good trustworthy inspector who can help you out by checking everything out.

I would have thought I'd find most issues, but no, it was worth having a good inspector look it over.  

But in a foreclosed auction, there is no such thing as getting an inspector to view the property.

You may want to look into the VA's vocational rehab & employment programs - through these you might be able to get your contractor's license, home inspector certification (which would be a huge asset to any real estate investor and provide an alternative income stream), or something similar. 

Think about it this way, when people are buying or selling a house on the market for retail prices, they will talk about the agents involved, the inspectors the mortgage brokers, the underwriters, the buyers/sellers but very rarely will anybody mention the actual bank that lends the mortgage.

An inspector went through the property already - he didn't find anything besides cosmetic issues.My real question is $331/month profit a good deal?

My husband and an inspector went over what needed to be done, we figured out the cost and wrote that into our offer. 

I am not an MFH expert but that surely sounds too good to be true.................no wait this is Chicago so i guess exceptions MIGHT apply.If i were you, i would proably have three different inspectors look at it and give different thoughts

Building code, dealing with inspectors, managing subs so although it has cost me my sanity and my focus on the wholesaling business I think it was well worth it for the experience and knowledge gained.So.. just waiting for WF to give me the green light to finish it myself and then its full speed ahead.