Currently, the maximum LTV for a cash-out refinance on a 2-4 unit property is 75% LTV, some lenders can go up to 80% on a case-by-case basis but qualifications are much more strict (FICO, DSCR, Property Type, Market, etc.).. but it can be done. 

Since you’re considering converting the upper unit into a short-term rental, you may also want to implement strict rules around smoking or strong odors in your house rules to avoid future issues.

We have purchased 8 investment properties over the last 2 years, we strictly rent them out with section 8. 

A break even into a profit, and a profit into a windfall. 3- Capital - I used to state this as access to capital, back when the rules were loser, the regulations less onerous, and information less readily available.

Illinois finally took the step to make it very clear you need a license to sell or market real estate you do not have title ownership to. those hiding behind  ( hey i am just selling a contract) that does not fly when run up the regulator flag pole. 

As long as there is no "healthcare" being provided (medicine, baths, etc) then it's not regulated by the department of health.

I'd be a fool to think they'd make more strictly wholesaling.

These programs offer options for less money down and in some cases DPA - Down payment assistance.As a banker for over 18+ years I am very skeptical when I hear a new name in the business only because its become tougher to lend with all of the new laws and credit/insurance requirements and regulations.  

But sometimes that just work on the other side, so I work hard to stick to a strict analysis even if that means deals by volume.

Lake Geneva and Walworth county is beautiful, they keep it pretty clean with  strict conservation and zoning...