Unless, you buy a condo(200-300k) which I do not recommend because they all have HOAs and are very strict with their rental policies.

My offer would be strictly based on sales value vs rent value. 

For some buys it may not make a difference but if you are on a strict budget it could be the difference in turning a profit or coming across a big issue and breaking even/losing money.Good luck!

I've heard of IL strict deposit return protocol so either way give proper notice of intent to withhold in a timely manner.I withhold the days of rent it took to re-rent when I receive no notice. 

If we are looking at a house for both of us strictly, we need to look at a different price point (more around 180k range) and than consider the next 1-2 years to save for a down-payment on an investment strictly.My question to this group: What are some pros and cons that you think about when determining - peace of mind living in your space vs. looking at the space as income-generating/business mainly?

What would be the BEST route to use a HELOC to purchase an investment property strictly for as a rental (do not want to flip)? 

The RSP rules are very strict with little room for flexibility.

I lost 30 lbs in the last 80 days on a low carb diet.

Fact is it’s true, I am a contractor myself and I have a partner who strictly does the paperwork side of things, while this works for us the truth is I spend a lot more time and effort on my end.

I use this evaluation process strictly for SFHs that I want to flip. depending on your end game strategy your evaluation might be slightly different (ie: if you are a buy-build-holder then you might want to count in rental rates as well) Hope that helped