Any waiver of the provisions of the Act is declared void. 765 ILCS 940/20.

Depending on how extensive the renovations are, in many cases the architect that draws the renovations plans and helps obtain the building permit is then allowed to supervise the works by signing a "declaration  as the responsible supervisor" and the city inspector comes at the end for a final sign off, allowing therefore for a faster construction timeline.

Further, you must include language in the real estate contract entitled “Lead Warning Statement” declaring that you have met all notification requirements.

 (1) the issuer is automatically granted private placement status, with no further possibility of the offering being declared non compliant and (2) in regard to any civil lawsuits, the offerer can use compliance with Reg D as a difinitive defense.  

All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved.

Now I am looking for something that I can do using my brain than my muscle, to help support my family.

The Estoppel will allow the exiting tenants to declare their personal property, current rent and the deposit on hold with the seller."

My proposal is to assume the mortgage and offer her a note for the balance (10yr interest-only, 30-year amortizing), and I would be looking to refi the original mortgage at some point in the not-too-distant future once I have fixed the issues with the property.My questions are:Will my future lender learn the terms of the seller-financed mortgage by my declaring it on the loan application, or do they have some independent way to learn of its existence and its terms?

Normal rates are around 2.5-2.8% but it's a little higher when you declare it's for an investment property.

And just like so many Bigger Pockets Podcasts and books, I will read and reread until it becomes muscle memory.