There's a lot to this and illinois will not approve you without these things in place, as well as some others.Good luck.

While this can maximize leverage and ROI, challenges include getting lender approval for seller financing, high carrying costs, and the pressure of short-term loans.

(The vendors give a quote, usually discounted for being a PM client and if I approve I pay amount, no extra fees/surcharges/etc.)For this I get GREAT and immediate service.

I could never buy land in brickell it's more than 300 million per acre. but in columbus I can buy an infill lot for 40-60k within 1mile of Downtown Columbus. we looked at hundreds of Floorplans and found that 2 bedrooms seemed to be better than 1 and we wanted a tight compact floorplan that could get high rents. rents are higher Downtown Columbus and property values are higher Downtown Columbus by more than 40%. after that we wanted 4 units but it was commercial so we stuck to 3 units because it's residential. in February of 2024 we submitted our first design of a stacked triplex that is 2 beds 1 bath. after design changes, we now have about 7 approved in our market. all of the underwriting of banks is based on long term rentals.

If the seller was also a builder and has plans, that could be a great shortcut, especially if they’re already approved or meet local codes.

I've read a lot about house rules and there seems to be two paths - only posting simplified/abbreviated rules on the respective OTA, or having more detailed rules sent out and approved. 

Hey Dutch,My IC Membership refund was approved 2/13/24, and was advised 2/19/24 that it would be processed that coming Friday (2/23/24).

All sec8 rentals are subject to review and approval by the housing authority issuing the vouched.  

However, there are risks, such as stricter lender requirements on the use and location of the property, and lenders may require you to prove that it is used primarily for personal vacations (not exclusively as a rental).Additionally, using it for short-term rentals could lead to changes in loan terms, and some lenders may not approve if they suspect the property is being rented out frequently.

Loans are approved based off of the rental income of the property.