It is possible to get 90% of your purchase price and 100% rehab funded as a first timer in 1-4 units.  

I am researching meet up groups here in the Chicagoland but, I am open to connect with others like myself (first-timers) and experienced investors over coffee!

For a first timer, you can expect a hard money lender to provide 70-75% of the purchase price, and 100% of the renovation budget, depending on the after repair value.

We have a disabled son and can’t maintain full-time residence there so that’s why we’re selling.

Seems like with ADU you get better cash flow, but with garage you maintain better appreciation.

Quote from @Heath D Wallace: Quote from @Nick Rutkowski: @Heath D Wallace Cats can damage your property if not maintained correctly, if your apartment has carpet then cat urine is can get soaked in it if the cat pees on your floor.

Quote from @Don Bessette: I have a 30 plus year tenant that can not keep up with maintaining their unit, it is filthy inside and in desperate need of renovation, all systems are in good repair and I respond very quickly when issues are brought to my attention.It is also well below market rent, and they struggle to pay the current rate.Looking for suggestions on how to gently proceed with the notification to move. 

I am an investor and also own a handyman service that rehabs and maintains all of our properties. 

If you prefer to maintain privacy and don’t want your tenants to know you are the property owner, I often recommend a two-entity strategy.

I have friends who are hard money lenders, and the rates were a no for me as a first time RE investor.