At least we don’t have rent control and it’s in the IL constitution that rent control is illegal otherwise Chicago would for sure have it by now.

Say you position in great locations where the experience is highly sought and highly valued with limited offerings.

The only way I see a low or no-money-down scenario being viable is if you have a lender willing to lend based on the Loan-to-Value (LTV) ratio, and if you can find a deal where your total costs are low enough to keep the LTV within the lender’s limits. 

Debt is rarely a factor in their issue. the ultra wealthy I know  with a few exceptions have very limited debt.. to no debt. 

@Mike ReynoldsRegarding your comment that if you need funds you can use money from your side business:You can't use non-retirement funds to pay for expenses related to real estate held inside you Solo 401k.Subject to the contribution rules and income limitations, you may be able to contribute non-retirement funds to your Solo 401k (e.g. as an employee or employer contribution) and then you could use the funds in your 401k to pay for expenses related to real estate owned by your Solo 401k.

Most look at a Certificate of Insurance and confirm coverage limits but best practices are to (1) become added as additional insured under contractors policy and (2) understand coverage exclusions which are not going to be detailed on an insurance certificate.

Just ensure to complete necessary due diligence - this can include, but is not limited to, title search, property inspection, appraisal and/or survey. 

If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

Is there a limit to how high I can go? 

My recollection is (and insurance experts on BP can correct me if my memory is wrong), but most insurers will only pay "replacement cost"  policy limits, if you actually replace the damaged property.