Chicago Newbie - buying 2-flat as owner occupied

[Natalie Grimaldi]

Hello everyone,

I have been on BiggerPockets for a while, but only as an observer. I have been renting in the downtown area and now ready to buy something, but want an investment instead of just a condo. I'm looking at 2-flats. 

I know how to shop for a condo, but wondering what qualifications I should use for an owner-occupied property (house hacking). Is it the 70% rule? 

I appreciate any tips or suggestions. Thanks a bunch!

Natalie

[Brie Schmidt]

@Natalie Grimaldi 2 flats are hard, they property will likely not cash flow and cost you money.  You should be looking for 3+ units.

What areas are you looking in?