Quote from @Sam Shueh: Anything under 20% is problematic.Wanting income you get a multifamily on the next.Sam, you think a multifamily is a better option?  

I would add a step, that although is optional, is often used: Form an LLC, specifically for the use of IRA funds.

However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates into 2025).It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

Letting them know you’re casting a wide net can motivate them to find stronger deals to stand out among your options.

Lenders offer favorable terms for owner-occupied multi-family homes, making duplexes a good option for financing.

Here’s a breakdown to help you navigate your first deal, incorporating advanced strategies, including 1031 exchanges, to attract a broader range of investors.Neighborhood Recommendations: Chicago offers a diverse range of neighborhoods for different investment goals:Wicker Park & West Town: These areas are known for their strong rental demand among young professionals and offer good potential for cash flow.Lake View: Ideal for attracting tenants who want to be close to downtown while enjoying local amenities.The Loop: A prime location for high-income renters, making it an attractive option if you’re planning to house hack and generate a steady stream of rental income.Property Types: Opt for properties that align with your investment goals.

Additionally, house hacking isn’t an option as I have 3 young children. 

Try to narrow down your options to the top 3-4.

One option is ServiceLink, which provides auction services and maintains listings for properties that have been foreclosed and are now available as REO properties.

I understand the concept, I own some REIT, but I wanted to tap into more hands on investing, and perhaps build wealth faster as BRRRR allows for that using 75% loan to value options, etc.