Typically people think FHA because it's what's thought of as the least amount down which is commonly the goal when we all get started.

It seems like a common challenge, and any advice you can provide would be invaluable.Thank you in advance for your help!

So when I see an advertisement like this I feel like it would be a waste of my time and money, but perhaps interesting for others. 

in a vast interview process with many steps before allowing someone to move in. a new roomie is an everyone-decision, not a landlord-only decision; if you're expecting people to co-exist in a space together (for longer than just a few months), you have to make sure they all have some things in common, or at minimum have the right expectations in terms of cleanliness and routine habits.someone working the night shift and someone else having a 5am rise-time, or someone who works from home in a call-center job is not going to jive well for example. and someone who doesnt handle conflict well is not going to jive with someone who is brutally honest and up front about issues. happy to go into more deets on how we do things if it will help. this can certainly be lucrative in terms of cash flow, but there are huge mud puddles i have stepped in over the years which i have had to learn to navigate.

This is a straightforward and common approach.However, make sure to document the change in the lease renewal or addendum, specifying the new security deposit amount.

Here's some online software options that you commonly see recommended on BiggerPockets.

FlooringScope of Work:Replace carpet in bedrooms with engineered hardwoodRefinish existing hardwood floors in common areasInstall durable tile in wet areas (bathrooms, laundry room)Estimated Cost: $20,0004.

They can help you navigate the market and avoid common pitfalls.If you’re serious about taking the plunge, start analyzing properties in both Boston and Chicago markets to understand local trends.

In the OFF-chance (not as common), you're looking to get into a DSCR loan...there are ways to get no origination or processing fee by originating your own loan (yes this is possible and you can do it in 39 states without a license).

It is common practice for mortgage companies to later sell the already funded loan to a 3rd party like a hedge fund or a bank after the fact.