@Shawn Good, my understanding is Fox Lake allows STR but you have to get a special use permit and it's a 2 night minimum.

Another option could be a private lender or a community bank that specializes in investment properties.

If that's not what your desired outcome is, do not get suckered into doing the FHA streamline refi.So at the end of the day, you have options, but if your goal is to buy another property, it's best to walk through all your options with a loan officer who specializes in working with investors and these exact scenarios, and map out a gameplan not only for your current property and next property, but getting to property 3,4,5 etc so that you don't get stuck on your journey.Hope that helps and best of luck!

I've actually had a number of military servicemen on TDY here stay at my smaller condos for several months in the off-season.

Regarding a refinance on a sub2, are there any special conditions or is it straight forward like a normal refinance?

If you need assistance with the setup, my best friend is a lawyer who specializes in these matters and can help.

After looking at well over 150 properties myself (pre-foreclosure, probate, wholesalers, etc) and talking to dozens and dozens of investors who are very experienced in the Chicago market as well as a couple of brokers that specialize in investment properties and move 1,200+ REO properties per year, I've been told by every single one of them that deals with this criteria are almost non-existent in this market.In speaking with one of KFN's own people I was told they only know of one deal that's been done in Chicago that meets their criteria.This is smelling very, very much "scammy".When asking one of their people about getting a refund because we've found no properties that meet their criteria and have gained no value whatsoever from their program, we were initially told that there's a 3 day right to rescind and after that all sales are final.I've sent email to their CEO and have yet to receive a response.I'd like to believe that companies still do business with integrity and do the right thing and give a refund when a customer is dissatisfied with their product/service.

I think if you are doing a DSCR loan it will be more expensive but rates should be the same, unless you are using a special program?

We did live-in flips while stationed in a variety of places with the military. 

This representation is crucial if you're ever audited.Regarding whether to hire a CPA versus just a tax preparer: Real estate tax is highly specialized, with numerous code sections and rules specific to the field.