Just be sure to be prepared to get legal advice if you run into grey areas that you are not well versed in to avoid legal implications.

I am interested in jumping in, but I am not sure if I have enough money.

I would also make sure you have a good amount set aside if something hits the fan.  

It is definitely a bit more tricky on an investment property, but it can for sure be done.What area of Chicago is the property in? 

Since you're using a GC, make sure they are properly covered.

Obviously if you go this route you need to be very attentive and make sure to zero out the credit cards as the promotion ends.  

I can't say for sure what the reasoning was, but the developers at some point around this time put a chainlink fence around the entire property - its 155 acres.

If you want more insights in the STR Market make sure to get our newsletter to stay up to date: https://www.biggerpockets.com/podcasts/short-term-rental None of this matters.

I recommend discussing your strategy & financing with a lender to make sure you could qualify for both FHA and then an investment property loan.

Make sure you know the value the ADU will add to the property before building the ADU. 2) the financing on an ADU is typically far worse than for initial investment property acquisition or is often not leveraged by the ADU (HELOC, cash out refi, etc).