I like your post and you obviously know Chicago but a lot of what you are saying is just plain wrong.

The key is understanding the nuances of the program and making sure your property aligns with their inspection standards.In Detroit specifically, Section 8 tends to work best in C and C+ neighborhoods.

@Loren Souers I'd have to run the specific scenarios with the rates and fees, but if you're OK with paying the higher closing costs, the Mortgage 1 deal looks good, particularly if you focus on CoC returns.

In many cases bigger banks or lenders have specific programs that cater to first time home buyers and investors. 

That’s a 0.02% success rate—a 99.98% failure rate.The data couldn’t be clearer: you’re targeting the wrong audience.

Specifically; rules, regulations and permitting procedure.

The specific property I am looking at right now is netting from PadSplit to the current owner  between $5k-$6k per month.

Is that where I went wrong?

Are there specific market indicators or property traits I should be paying attention to?

What is drawing you to that specific location?