@Cody Evans if anyone wants an on the spot offer, explain to them that you need to crunch your numbers, or if they are persistent offer that low offer.

@Evan D.

Quote from @Jeffrey Evans: Mine is working well and I don't regret getting it. 

Using this scope of work, as well as visiting the property numerous times with our contractor (who I connected with through BP, thanks Zech Evans), we were able to drop the price another 10,000 to accommodate the desperately needed new windows.  

@Evan DiLeonardiFHA loan rules do not permit rentals of living units in the home purchased with an FHA mortgage if those rentals are for less than 30 days.

Also has a Metra, highway, two colleges nearby, and new commercial development (walmart, potbelly, ross, planet fitness, etc.)Moral of the story, look for stuff that attracts good tenants.

@Cody Evans, excellent choice on Frank Gallinellis text.

Evan,I did a very similar project in the Herron Morton Neighborhood and was fortunate to get my money back and I was using all of my own cash so there were no interest charges.Based upon my experience and the details of your situation that you have described, I would bail on this project.It may turn out to be a great project; however, you are stretching to get there which adds a great deal of stress to your life.I can share more details if you want to have a phone conversation.Chris

@Ross G.It is possible depending what your criteria.

Devin Ross was his (alleged) name and he was (allegedly) calling from Seattle, WA.He liked our model and agreed to fund us but wanted to come down and see the property we had under contract first.