Tenants are getting financially squeezed.With costs up across the board, I’d guess more people are doubling up, living with family, or staying put longer rather than forming new households.

People who don't actually own property in Detroit 2.

They promote a lifestyle versus how to actually do something. 3.

Actually, a series of Ponzi's. 

Let's be fair, you state what you believe to be the situation in Chicago (while being from Phoenix it looks like), I will state what actually happens in Seattle from experience. 

I work with all the big box lenders and I have worked with a private hedge fund and I have worked with smaller, local HM outfits and NONE OF THEM had anything like that.Because if the deal falls apart I am guessing they keep your 2500.

If the price to rent ratios don’t make sense in your area, then I’d start looking at smaller out of state markets where the numbers actually work.

Well I guess because it does require real work they have to actually find the deals coordinate the rehab and get them sold..

.- These are actually pets the applicants are trying to avoid paying additional pet fees & rent for.

The biggest variable is future rent, if you are guessing a couple hundret bucks conservative no deal will ever work.You are also giving your spreadsheet way to much power.