Statistics like this are fine when you look at a population as a whole but it doesn't take into effect the amount of effort put in by an individual.

We did submit our individual tax returns for the past 3 years in order for the lender to pre-approve the loan.

Discussing with individuals that rent in the area, the level of saturation of units in the area right now is driving prices down or keeping them flat.

The Fed is stepping in to provide credit for corporations but nothing yet for individuals 

We are always looking to expand our network of agents (as of now, I've been predominately work with a single individual), if you're focused on the 3+ unit multi-family space in Lehigh area, I would love to discuss our investment criteria and develop a relationship. 

It's generally true that a larger sqft house will sell for lower $ per sqft than a smaller one but there are many other factors in each individual house to consider.   

(P.S. we are both young, ambitious, college-educated individuals who will surely add value to any investor in the Chicago area.

O'Diah  How much can you rent the individual units for? 

I have read dozens of post on here that suggest strategies such as financing as individual and then quitclaim back to LLC.

You can meet some here on BP but I'd recommend going to a meet up in your area and chatting with some individuals.