You have your boss hat on when discussing how to collect the utility payment with your 'property manager' from one of your 'sons' roommates.If I did it, make it perfectly clear, son or not, you expect the rent to be collected and paid on time, the lawn maintained, etc etc. 

What about monthly repairs, maintenance, lawn & snow, CapEx, utilities, vacancy, etc?

Novice investors attribute zero value to cash to artificially increase the perception of their returns on a property.

The Obama Library coming in Washington Park/south shore, large blocks of retail being built in Englewood, UofC growing their influence in Wood Lawn, South Works development in South Chicago, and the city pushing major redevelopment on the major streets like 43rd, 47th, 51st, 61st, 63rd, & 87th.

Don't forget that you are artificially putting alot of pressure by having a 12 year loan.If you relative doesn't cost you anything, even if this house cost you a few hundred now and than, it is better than paying ALL the expense.

I would at least trim the bushes and make them the same height, a well manicured lawn is always a plus.

Speculators who are buying futures contracts as hedges against inflation have no intention of ever receiving the oil, and artificially remove it from the marketplace for the term of the contract, which results in the appearance of a shortage of crude available to refiners.

The house is a 5 bedroom with pool and spa and we have lawn and pool maintenance included with the lease but utilities excluded. when signing up with the rental company, we asked about leaving the tank that is used for heating the hot-tub and continuing to pay rent for the tenants ($7 a month) and that we would get the company to remove the propane to get our money back (~$400) so that the tenants could fill it if they chose to use it.

Noticed an abandoned home while driving that hasn't had its lawn mowed this season so obviously not bank owned.

The other possibility is that the original owner may have had some political connections that kept prices artificially low until your purchase triggered an "oh crud Bob isn't there anymore panic".