This is the ideal scenario for seller finance.

My goal is to continue to buy 3-4 condos like this one and use the snowball strategy to pay off these condos quickly so I can build up my passive income(ideally $20k+ a year from 1 paid off condo).

I'd like the building to be within 10 minutes walking distance from a Brown Line L stop, ideally in Lake View, North Center, or Ravenswood.

Ideally, my goal would be to get $40-45k equity back out.

There's a few different ways to focus on a lower rate such as with house hacking and making the investment your primary residence, requesting a significant closing credit from the sellers for standard rate buy-downs (which I've had great success with recently), or utilizing lenders who offer short term rate lowering solutions such as 2-1 rate buy downs (again, ideally paid for by the sellers).

No doubt buying the first property can seem very scary but ideally, you are working with a realtor and lender who owns STRs.

Then transfer your salary or distribution to your personal account, ideally on a set schedule.

Some of it can be temporary, but ideally you'll want to be in markets where it can be sustained (ie. have barriers to entry). 

Where these numbers are found, there is a very high rate of rent actually being paid.We have over a dozen Fortune 500 companies just in Metro Detroit with huge Healthcare, Auto, and mortgage industry National footprints.

I would be open to a 3-4 unit, but my ideal sized property would be 10-20 units."