Is there a certain cost per unit I can expect to pay based on the condition of the building? 

We are going to get the structural engineer inspection and decide our course of action based on what they say. 

I am based in Bloomington-Normal, IL, just two hours south of Chicago.

Perform your banking wherever is most convenient to you not based on where the bank's physical presence is located.

So I believe it doesn't have anything to do with the quality of your rental, or how it will rent, just with the confidence of their predictions based on the data their system has. 

How much notice would you say is reasonable, considering they are kind people (despite being dirty and missing payment dates) and will have a hard time finding a place to bring their large dog.I'd given them written notice based on the rules for your area to get the process started (whether that's 30 days or some other number), and then tell them you'd be willing to work with them on the official move out date (within reason) if they need a bit more time to find a place so long as they are current on rent.

Based on the limited info you provided, it looks like there is roughly $180k in Gain. 

Under my profile (sending this from my phone) I have a blog on BP about top questions to ask.Key things to understand:1.

I'm not sure what market you are based out of but we do this in Columbus OHIO and florida markets. 

I used to get 25- 30% net caps based on cash purchases.