Hi I recently came across some local programs in the Chicago area (Chicago Home Assistance Program) that offers a grant for up to 7% of the loan value so I was just curious to know if anyone has used any government sponsored programs like this to buy an investment property.If anyone has any experience with this I’d love to hear about it.

Rent is in section 8 housing and rent comes in on the 1st every month  Rent: 700$House has passed all government paperwork to be section 8 compliant. yearly insurance is 345$would need to use property management company to manage the property. utilities are paid for by the tenant.Does this add up? 

I think this area is of law is mostly governed by case law rather than statutory laws, but you would want to ask an attorney to follow-up. 

It could – and should – be terminated.”Wolf highlights the fact that the ability of banks to create money requires governments and taxpayers to underwrite the banking system:“Banking is therefore not a normal market activity, because it provides two linked public goods: money and the payments network.

Just kiddin'.Anyone going through foreclosure has several things going on: 1) They are under a lot of stress, 2) Everybody is mailing to them and knocking on their door, 3) They are embarrassed, 4) They feel helpless, 5) They have the belief that winning the lotto will bail them out at the last minute, 6) It's the bank's fault, 7) This can't be happening to them, 8) They don't want to sell, 9) The house (even though it has a leaky roof and hasn't been kept up) is worth more than market price, 10) Believe you are there to take advantage of them, 11) Believe the government should do more to protect them, 12) Believe that their payments reduce the principal directly proportionate to their payment (Have no concept of compound interest, what Einstein called "the 8th wonder of the world"). 13) They can file a Chapt 13 bankruptcy at the last minute and keep the house if they have income, 14) They will wait until the day before the sale and call you if none of the other solutions work.Your opening comment should be " I buy houses in the area and I was wondering if you or someone you know might be interested in selling".

How do you get around this government implemented hurdle?

It is exactly the same as any tenant except you have a additional notice to your government tenant as well as the resident tenant.If the government does not approve the rent increase your resident tennat moves out, same as any tennat, and you screen for a new one.Again this is the same with giving notice to any tennat.

Ive challenged them on this since there was not vote by the homeowners, that im aware of, and they essentially quoted as 2008 law  that says the the board can: (18) Exercise any other powers necessary and proper for the governance and operation of the association.The reason they have implemented is that there was a bad landlord that allowed a tenant to rent that eventually got busted for drugs.   

Government runs the school system and the government is a business.....The profits from the high tuition benefits the schools, the government, and the banks. 

When the government starts to take that away then we are going to have problems as a landlord.