That puts build cost between 120,000-170,000 respectively.

 Seems like I will replace the Septic since I asked for your advice and highly respect it.

If you see WSJ Prime + anything less than a point  it usually means the bank has a great deal of respect for your creditworthiness, really wants to fund your project or combination of both.

These armchair quarterbacks need to come over here and jump in to help, or otherwise find something else to gossip about, out of respect. 

With due respect, you're saying the Pre approval from a hard money lender is good enough as a POF?

@Mohammed RahmanI respectfully disagree.

There are other avenues to review but I agree past rental history is important (disclosure I have 15+ doors right now)If you feel bad for them then rent to them.My point is its corporate america and you are blaming the wrong person - you are blaming the corporation but you should be blaming the politicians who create an environment that is tenant friendly and sue happy. 

I certainly don't owe any favors to someone who is not respectful to the property, their Increases are without a 2nd thought. 

Why will likely determine how because if you are looking for cashflow vs. appreciation vs. quick capitalHow could it be househacking, brrrr, flip, long term -> You mentioned BRRRR, which is an awesome strategy but will only work in specific sectors of Chicagoland. finding the perfect brrrr in the current environment is extremely tough!

Meetups are the best for meeting people of all trades in Real Estate and it’s a safe environment.