I guess if the rebate amount is substantial and requires an active electric account to claim the rebate, it may be worthwhile to wait till your turn the unit around to install new systems and appliances when the account is temporarily in your name.

Based on the area my guess is its not in COOK County, which is good, as there is a good chance of property taxes going higher in COOK County next year.Also, you need to be sure that the property can be rented out post purchase, with a town of 350 population, what is the ratio of rent vs owning?

I guess the next question would be how do I go about getting ahold of real estate agents or connect with agents that are looking to become involved with a new, first time investor whom is potentially looking to build his portfolio into something?

Back when they were little, I had a small real estate empire growing that included 12 rental units on 4 properties but I had to burn it all to the ground (or liquidate I guess...) to get a safe distance from their mom. 

Going to need more information and pictures to even venture a guess.  

Yeah, I'm guessing he has no idea you're trying to wholesale.

Now as for the bank...guess they can make their own rules?

Guess it depends on the contractor?

So I guess I'll see what's selling for about $85-100k in our area and Janesville -- where I know prices are cheaper judging from the large house my brother just bought there!

I guess in reality you have the 30-45 days from the time your sell contract is signed till close.