I can't find any information on occupancy requirements prior to sale for an owner-builder in this state, though it's well-documented in some other states like Texas so I'd be surprised if no guidelines exist. 

I'm pleasantly surprised how many investors are in the same area as me!

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

next I will be surprised if you can add a ground up ADU in Bay Area at $200k unless you do some of the work. 

Real estate can be very profitable... but it can also have a few surprises along the way.Randy

Most areas of Chicago have tons of comps, so I am surprised you are not getting enough data. 

I am (to no-ones surprise) very biased on the Milwaukee area for a lot of reasons. 

My strategy is to underwrite conservatively and then be pleasantly surprised, although miss more deals that way. 

Though you are looking at a spec home so already built and I'd be surprised if the builder is offering you a 30 year amortized loan at 5.99%. 

Tried a simple Google search but was surprised at how thin the options seemed to be.