Quote from @Patricia Steiner: There are several lenders who offer low/no closing cost options for first time homebuyers.

Would it generally be a location that tends to have a higher cost of living? 

I wondering if I can deduct any of the repair, closing cost and deprecation on taxes. 

.✅ Knowledge of Chicago Rental Laws – A good property manager stays up to date on local laws, helping you avoid costly legal mistakes.✅ Maintenance & Repairs Handled – No more emergency calls at 2 AM about a broken water heater!

I have "XXXX" of debts every month, and make "XXXX" every two weeks.That will find the cost of duplex you need, though you may need to verify it is using current FHA guidelines as they have changed recently, so make sure you use that. 

How much is the rehab going to cost, what's the ARV going to be, and how much will the property rent for?

@Jeffrey Holst that is not true, you don't get pass through tax advantages but not all W2 employees can fully use them in the year taken and the K-1 accounting can cost a lot.

We almost went with a loan that we have to pay all the cost upfront and then get reimbursed on the back end and that was just not something we were willing to do.

We decided to rent, this way if the sale fell through we would only lose our time packing (we needed to purge anyway), the cost of a POD and one month's rent.

The city also benefits from a relatively low cost of living compared to other major cities, attracting both renters and investors.