Points I can roll into the cost and don't mind a buy down if necessary.My primary concern is the bleed rate monthly for the build, Airbnb stabilization and the year after while we season it and prep for final financing for long term hold.

I’d suggest exploring a bridge loan that covers a portion of the purchase price along with 100% of the renovation costs.

Here are a few key pitfalls to be aware of:Common Challenges:1.Aging Properties: Many Section 8-eligible homes are older, which often means higher maintenance and repair costs. 

Others investors drive extra ROI by thing like ability to reposition property for greater profitability and or less risk; ability to rehab property at less cost, ability to identify areas where gentrification is likely to occur, etc. 

Tenant screening, especially here in Chicago, is one of the most important things you have to prioritize learning - learning it the hard way is the fastest, but not always the most cost-effective (I know from experience haha)If you still need a solid eviction attorney, please let me know! 

A few things to think about-what are all of your monthly costs and look at the rent including vacancy and management fees. 

Quote from @Aaron Zimmerman: I would look for other ways to legally reduce income such as cost segregation studies.

My business partner provided the upfront cash for the down payment, and we used hard money to cover the remainder and the rehab costs.

This demographic is projected to keep increasing over time, so I would do whatever you can to hold onto this property (ie cash flow well).Furnishing 700 sqft with PB or West Elm (you and my wife would get along great, Bonnie) won't be price-prohibitive and well worth the cost.

Out of that voucher amount, they will have a utility and appliance work sheet that provides a cost for each utility or appliance not provided by a landlord for each bedroom size.