@John Fortes sounds like that would qualify just ensure the investment is being funded with capital gains and acquired through an OZ Fund.

@Timothy VanWingerden What does the current lease say regarding inspections, work, and notice for access?

The only place would be behind this double gate, but you see there is no access from the road.

Secondly, we looked at cities that we had easy access too.

I just acquired 2 quadplexes (first properties), and I will begin renovating a house I am under contract on while renovating another unit of the quadplex at the same time.

With each loan acquired, the next one is more difficult than the last.

I am looking for small multi-family properties, 1-4 units, that can be acquired with a resident loan.

I have access to roughly $40K for a down payment Thank you in advance BP community!

Some lenders might accept accessible funds in retirement accounts for this, but your best bet is to have it there.

Less than 6 units you can probably do all of that with your homeowner's insurance agent.Since you are blessed to be in Illinois take advantage of the Illinois Land Trust when acquiring properties.