I am fresh out of school and I am trying to find a quad-plex to invest in in the Chicago-land area.

If the bomb drops, and you will know it when you see it if it does drop, your next phone call is to your agent to ask for a referral to a lender that is local to you that can deliver on speed.

The contract should cover at least:- Parties - Address of the property where work is done- Work start and end dates and if they can be adjusted based on certain events (for example, materials are not delivered on site by the time they are needed, or other legitimate delays)- Who pays for materials and how materials are delivered to the site (request your contractor to provide an approximate schedule for materials/parts/fixtures to be needed on site for install prior to beginning of work)- Price for work and schedule of draws (or at least that you'll develop and agree on schedule of draws prior to beginning of work)- Bonuses for early completion or penalties for late completion- Milestones for the project and your right to terminate the contract if the milestones are not met by Contractor- Warranties on labor- If the permits are pulled and who is responsible for that- How / where Contract disputes are handled - Scope of Work (a detailed version of it is incorporated in the Contract and bth Parties sign it)Happy remodeling!

Was it a condition of your contract that this unit be delivered vacant at COE?

I'd love to know where they get their comps off and how fresh/accurate they are

I can't find any good comps, It seems a lot of the properties sell at this price and none are selling that are turn key and freshly rehabbed. 

If this is a pattern, I'd seek to get them out...because it'll continue happening and it will be a constant pain.If you'd like to get rid of them: If pay past the due date, deliver an immediate notice to pay or quite (usually 3 day, but depends on your state) then, after that period, file for eviction.Alternative: Pay them to leave.

It is newly renovated, new kitchen with marble tops and appliances and flooring and fresh paint.

Most lenders will require the property to be delivered vacant, especially during the constructions phase. 

Sort of starting anew with a fresh market, but it'll be fun.