Loan is just over $108k. 

I'm passionate about creating secure, long-term housing solutions that balance tenant stability with strong returns.

I use a loan servicer who processes the borrowers payment and then sends to me.

What should I consider about the purchase price, interest rate, and other terms? 

I love that you have specific goals for 2025 - I believe if we think it, write it, say it, and share it our goals are 10x more likely to come to fruition.Are you able to do option 2 and just house hack a 2-4 unit building and use a renovation loan which allows you to put down 3.5-5%I highly suggest getting to some local chicago meetup groups (we have an in person one on the 17th)...here is BPs list: https://www.biggerpockets.com/forums/521-real-estate-events-...I also have a full list of the chicago meetups that I can share with you too if that'd be helpful.

So for the first property which will cost over $1 mil to construct, there will be stacked loans, essentially $280K will come from loan assistance program,( the name is not correct but the same idea).

Investment Info:

Large multi-family (5+ units) buy & hold investment in West Allis.

Purchase price: $294,500

Cash invested: $144,000

This was my first commercial MF and off market deal. My agent ...

FHA LoansIf your down payment savings and your credit score aren’t where you want them to be, an FHA loan could be your pathway to buying a home.

Not all homes are great long term rentals! 

If you did finance some of the purchase using a non-recourse loan, then you need to read up on UBTI/UDFI and there are some taxation benefits that the IRA can achieve since it now owes taxes in that scenario.