@James McGovern - my wife was in attendance and she and I own 20+ properties, a huge office building, have done multiple 1031 exchanges, Segregation studies, flips, private money, creative financing etc.  

Also, should it be a separate LLC for each house?

I am leaning towards demolishing the house and building a simple 3/2 but I have no market data in the city for new builds in recent years.

At that time, it is the only house I was qualify to purchase How did you find this deal and how did you negotiate it?

I was planning to do that and then return their security deposit if the house is in good condition.

It's possible that they heard a little bit too much from the fair housing commission and are now considered a "professional tenant"Usually these people will not listen keep withholding payment, and take advantage of the system as much as possible.

We even joked about student housing and other industry quirks.

Well Andrew I'm a wholesaler and if I had properties in your area you be the first one is call because I never leave a lead alone until they tell me to goto you know where, or the sell me their house.

@Bobby Sharma We conducted a Deed in Lieu on a non-performing note and got the house in Cicero, IL.

Carpet for a flip??