In addition your 17 so I am assuming your still at home.

There is no additional "risk" on the note like a demand clause etc, but you have  extra expense in upfront one time costs and the pre-payment penalty that most programs are sold with if rates do drop as expected in the future.  

In addition, I've helped many other investors finance their deals as a mortgage broker.I'm happy to share my experience as both an investor and lender.

Additionally, I have one savings account for reserves for all my properties, which I add to every month. 

Here are a few additional strategies that might help mitigate risk if you decide to rent the property:Hire a Strong Property Management Company: While you’ve already spoken with some PMs, consider finding one with extensive experience managing single-family rentals in Cook County specifically.

Does this completely prevent the tax lien holder of getting additional gains after foreclosing? 

Are you looking to do additional projects like this in other cities/states?

I would love to benefit from the savings of grouping the listings as a primary with add-ons, but the last time I tried that, there were multiple issues on their end.

These are professionals with additional training and a stricter code of ethics.

@Cole DobbsIn addition, I may be able to help you and connect you with some key real estate investor players in the Houston, Texas market since I am an Investor myself that have done most of these real estate investing strategies and also an investor-broker who has helped over 400 investors like you.