You may have to search a bit for the right contractor or engineer - sometimes I see one solution dominating in an area - "that is how we always do it"  Thanks for the input - yes, it sounds like the specific area this house is in is particularly bad for foundation issues.  

What area of Chicago are you looking to invest in?I

In one of my markets I invest in I could buy a house cash for $200,000.

However, I've come to realize that Utah (the market I'm in) is a non-disclosure state so I can't find data on sales prices.

The state that I live in is also not landlord friendly.  

What neighborhood are you purchasing in?  I

Once Dave chimes in I think you'll have a better perspective on what that could be...

It's reassuring to hear it's not a rare nightmare scenario I'm in. I

The only time I'd say it's an okay idea is if either: The area you're investing in is expecting so much appreciation that you will easily profit off that (watch out for mortgage interest though...the appreciation needs to be higher than what you pay in that and expenses to make it profitable)You have some specific reason for wanting to do it- family ties, future home, major long-term hold, etc.Maybe I'm forgetting another one, but those two are all I have for now...

@Yun Han what city is your rental in? I