I love that you have specific goals for 2025 - I believe if we think it, write it, say it, and share it our goals are 10x more likely to come to fruition.Are you able to do option 2 and just house hack a 2-4 unit building and use a renovation loan which allows you to put down 3.5-5%I highly suggest getting to some local chicago meetup groups (we have an in person one on the 17th)...here is BPs list: https://www.biggerpockets.com/forums/521-real-estate-events-...I also have a full list of the chicago meetups that I can share with you too if that'd be helpful.

In San Diego at the current rates for a purchase loan (which has better rates than an ADU additions) at high LTV, I show 1% does not cash flow on a sustained basis.  

More doors the better if you are using an FHA type of loan.

Want to get a loan for $250k in AZ

House hacking is an excellent strategy, especially with the potential to use an FHA loan to secure a property with a low down payment. 

Not only will lenders be effected, but borrower credit, business loans, inventory, and auto credit will suffer when those effected have to relocate, find long term replacement housing and their livelihoods and income are destroyed.

In today’s market most homes will be worth more than their outstanding loan balance unless they are VERY recent purchases with little to no money down.

Last year one of our lenders would not lend to new customers or customers who have never did a commercial loan with them.  

You typically need up to two years of stable employment before a bank will loan to you.

I plan to apply for an FHA loan for my first investment if I were to find a deal, but if I can't something that works for buy and hold.