DSCR loans offer alternatives for DTI/income and employment, but generally still have strict personal credit requirements. 

I did walk away from this exact property but it was good practice I think for me and I will be looking into some more in the coming weeks.My next question is property management for something that strictly does emergency calls where I can not be present?

Although it's not a strict rule, this can serve as a useful guide.A frequent goal for house hacking is to have the rental revenue from the extra units completely cover your mortgage payment.

Just to add on to what @John Warren and @Sarita Scherpereel said security deposit rules in Chicago are very very strict.

Mid-Stay Rentals (MTR) offer steady money with leases from 1 to 6 months but with okay cash chances and strict rules.

Much is going to depend on the amount of the house that will be used and allocated strictly for business. 

I personally am looking a MTR in that area, rather than the beach strictly for headaches regarding hurricanes/salt.

Annual registrations, point of sale inspections, turning a blind eye to the most awful owner occupied housing while being overly strict to investment properties, courts that continue to drag out the eviction process; excruciatingly slow, laborious, and expensive permit processes; evictions that continue to be granted one extension after the next... these are the difficulties you run into in those cities. 

I moved here from Florida after seeing the projected growth.With little credit history, it will probably be your best bet to build up your credit to become more lendable, or to go DSCR so the loan is strictly based on the performance of the property. 

I am strictly a buy and hold investor.