Explore options like conventional loans, DSCR, seller financing, or partnerships, and connect with local lenders to find the best fit for your strategy.Good luck!

If you ever want to have a discussion to explore your options or ask any questions about the concerns you mentioned, I would be happy to help! 

If that is the case then I would say yeah work with an agent who has a solid reputation either here or from a friend referral.

This allows you to access funds while keeping your existing mortgages intact.Second Mortgage: Explore lenders who offer second-position loans on investment properties, though rates will be higher.Cash-Out HELOC : While traditional banks often restrict HELOCs on non-owner-occupied properties, some portfolio or private lenders may offer HELOCs for investors.With $15-20K in liquid funds, look for deals where you can negotiate terms:Seller Financing: Negotiate lower down payments or interest-only periods.Subject-To Financing: Assume the seller’s existing mortgage while covering the down payment.Lease-to-Own: Lock in the purchase price while using rental income to build equity.

It’s a market worth exploring for first-time investors like you.

Be mindful of short-term capital gains tax, as profits from flips held for less than a year are taxed as ordinary income, and frequent flipping may result in self-employment taxes.While profits from flips do not qualify for 1031 exchanges (since flips are considered inventory, not investment properties), you can minimize your tax burden by deducting allowable expenses like renovation costs, loan interest, and holding expenses.If you're considering diversifying into rentals, explore opportunities to benefit from long-term tax advantages such as depreciation and lower long-term capital gains rates.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

Like deferred maintenance, (bad roof, worn out water heater/AC Unit, warped flooring, water damage) etc, unpaid utilities,  unpaid taxes, a second loan, unpaid HOA fees, a bad pool, bad reputation, sometimes squatters, sometimes they were drug houses, and so on.

While BRRRR works for scaling, explore turnkey rentals or creative financing in cash flow-heavy markets to accelerate growth.This post does not create a CPA-Client relationship.

With your maintenance and construction background, you'll definitely have a leg up in creating value, whether you go with a smaller home or a multi-unit property.If you're exploring seller financing and deal structuring, connecting with experienced investors here in Chicago will be a game changer.