He owes 650k house is worth about 1.4M, however, he only needs 300k.

I also like the sponsor, generally speaking, who is going all in with at least a third, and preferably half, of their net worth on the deal or fund.

If it wasn't for the character and history it wouldn't be worth it.

Well worth it and the best strategy to start in my opinion. 

It may be worth having an experienced professional helping you and you could always try to get the seller to pay your agent’s fees.

If approved, you’d already be in a position to add units, whereas others might still be navigating the zoning process.That said, rezoning takes time and isn’t guaranteed, so it’s worth weighing the cost, process, and likelihood of approval.

In high-cost markets like Chicago, that can be tough to meet.If you're looking at a duplex, the self-sufficiency test doesn’t apply, so you’d just need to qualify based on your personal income and the rental income your lender allows.If your current lender isn’t familiar with making FHA work in your situation, it might be worth getting a second opinion from someone experienced with FHA multi-unit financing.

I have personally owned over 200 cash flow rentals and sold them as it simply was not worth it..

It worth looking at!

Theyre worth keeping an eye on.They will be at IBS, delivery times is a great question to ask them.