I would just keep that in mind as you network.Try to do deals for yourself if you haven't already, and I think you'll be pleasantly surprised at what that does for your career :)  Hope this helps!

Every distressed property (assuming you want to add value) has surprises. 

You can rent out a second home as an AIRBNB or VRBO and also transition it into a permanent rental in a short period of time.You mentioned talking to multiple people and it does not surprise me as the bank/lending industry is full of new comers, loan officers with no investor options or lack of knowledge. 

You don't need to, but I've always given my bank a heads up so there's no surprises.

I liked this advice, and paid a contractor to put in new floors and spruce up the unit and when it came to rent, I had a surprise….After pre screening many folks, I had a few showings with very qualified potential tenants, and they really liked the first floor, but when they saw the way the bedrooms were laid out upstairs, it was a dealbreaker every time. 

@Adriel CisnerosI'm not surprised those are the returns you're projecting in Logan Square, but I would think that you could get a higher return in Englewood due to it being cheaper but also a D class area.

Surprisingly it was easier to find a private money lender than it was to find a willing local bank.

Have some reserves for the above and Expect Surprises.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

I wouldn’t be surprised your total cost is more than what you have so far.