This is required for most landlords in the city, as part of the rental property registration program.

My question is that due to numerous unfortunate circumstances, two properties that my partner and I purchased (through a program) were underscoped, and we cannot move forward financially.

If you don’t have a large down payment saved up, don’t worry—there are plenty of options available . . .”A trusted lender will go over the various loan types with you, any down payment requirements on those, and down payment assistance programs you may qualify for.

I think once you get more than that, you would need a more expansive program

You have to find the areas that are either zoned for Hotel and Resort or have NUCs (non-conforming use) certificates. 

Some programs are 100% of FMR, some 105% or greater (like the Walker Settlement Voucher in Dallas Housing Authority), some less.

With Chicago's new Express Permit Program, it's a bit easier to get permits for work that would have previously required architectural drawings. 

Hi Umesh - I am looking at this program also.

It's a very long standing visa program, super regularized, they have visas, 100% legal, ton's of rules about it. 

In addition, I would give the tenant information about the local place that handles rental assistance programs.