Now that I've settled in Chicago for the foreseeable future, I've been aggressively looking for a buy-and-hold/house hacking property and have luckily gone under contract for a 3-flat in Jefferson Park.

Either that or your reserves will have to be sky high for lenders to hedge their risk on future loans.

Good luck in the future!

@Joseph Lucas JrWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

Even if you decide to fight HUD *(initial reaction: crazy), your best path to future success on this property is to present the Muni with the idea that you WANT to make the property safe and whole, one way or the other.

(Sometime in the future.) 

After doing this several times and turning to the forums when you have questions you will build the ability to analyze a deal very quickly which will be a valuable tool in your future as an investor.Best of luck and feel free to message me if you have questions.

Great advice though and hope to try seller financing in the future.

It’s appreciating its cash flowing and you can sell for a much higher value if need be .I imagine with property values that high surrounding your area that you can get some great rent money out of that house for the future

Im trying to get into longer notes because I don't know what are banking future looks like and will there be another crisis.