Not prohibitive like a "lockout period" you may see with commercial or traditional multifamily loans, just a small feeMore info on factors that go into DCSR rates and Prepayments:DSCR Loans: What Are They And How To Get The Best Termshttps://www.biggerpockets.com/...DSCR Loans: How To Use Pro Strategies To Save More And Make Morehttps://www.biggerpockets.com/...

And if veil hasn’t been pierced by now, it likely will be within a short period of time for another reason.

It does help for a smoother transition period, IMO.

If you have the clause we use in your lease we are able to give 60 days notice of cancellation after a certain period of time.

Often newer investors want things to cashflow and cover their mortgage, but the riches in real estate (in my opinion) are in GAINING EXPERIENCE......so consider just finding a property where if you were to rent in the same neighbhorhood your mortgage is less than that amount (less rental income as well) - that to me is a win period...Are you looking at any specific areas of chicago?

They can also manage the listing on various vacation rental platforms.Control Over Occupancy: The management firm will operate within the guidelines you set regarding the rental periods and occupancy.

There are also several build-to-rent projects going on with builder financing deals snd some even offering perks like property management (even free for a period) so maintenance costs can be kept lower in the beginning years. 

I think I remember correctly that for a period of time 80% of real estate transactions involved some sort of seller financing or existing loan assumption.

We deal with some of the best "we buy" folks on the east coast.When the property condition is unexpected, they terminate during the study period... as they have reserved the right to do. 

Often borrowers can obtain lower than market rates or more flexible terms such as interest only for the initial fixed period.