Those long deals (6 months or more) usually have some big issue with the property or business that can’t be resolved quickly and since you’re dealing with SBA you have only one choice—wait until the issue is resolved.

To me this was a bad choice by a rookie investor.  

Not all cities in all of the states we invest in are good choices.

Think about other financing choices, such as traditional lending or innovative financing alternatives for homes with several units.

(Again assuming you didn’t owe another $15k to your state.)I don’t see how this is even a choice. 

The choice to invest now depends on your money and how much risk you can take.

The recent NFL Draft, hosted by Detroit, brought in over 300,000 visitors who's attitudes about Detroit did a 180.Detroit also beat out Miami last year for the city with the highest appreciation rate in the US.It's not all unicorns & rainbows though, as there are still many areas of the city investors should avoid, which scammers keep trying to sell to naive OOS investors.PM us if you'd like to know more about how we've assisted hundreds of investors make logical investment choices in Detroit and avoid portfolio crushing mistakes:)

But now I question if it was the best choice.

Its her choice to apply or not. 

@JT StanfordTo start buying real estate in Chicago, as a first-time homebuyers you should your budget, look at loan choices, talk to a loan broker, check out places like Woodlawn and Greater Grand Crossing, and choose a property type (duplex, triplex, or multi-unit), look at move-in ready homes, work with a local real estate agent, and plan for the future.