First time home buyer programs (FHA, LoanPossible) or even low down payment options (5% down with a conventional loan) are all limited to owner occupants. - You CAN NOT use a conventional mortgage to purchase a property with an LLC.

Go to a credit union and get a low interest 2nd mortgage and leave the 1rst mortgage intact.

However, if I have a low salary and this building is a little older but has good upkeep, the rent is fair and my landlord is decent.

The plain language of the statute, the legislative history, and our state's important policy of providing protection for low-income tenants all support the conclusion that the statute encompasses Section 8 vouchers.

Durable, low maintenance interior finishes.

So before you get ready to attempt to rip your Landlord a new one, first go take it up with the local taxing authority, then go have it out with the insurance industry, then gripe to the neighborhood HOA (if applicable), then maybe settle your disputes with Home Depot/Lowes and any and all trade contractors.

low purchase price + big rehab needed + high rent to price ratio = challenging area i would assume...

This is In a state with no income tax, low maintenance homes, and a low federal tax bill due to depreciation. 

In Chicago, that is now becoming more of a standard to a low down payment program.

(along with low expenses).