@Orlando Glez-JorgePlenty of lenders will lend on this - if you go to Facebook and search for lenders with 100% financing with financing spelled incorrectly, they say they lend at 3% and loan amounts from $5,000 - $50,000,000These lenders will approve you all day long, then have you send them $5,000 upfront.

A loan-to-value (LTV) ratio around 70-80% with a straightforward approval process would be appealing.

Hello,I recently got pre approved and now looking at properties to house hack in the Chicago land area (suburbs).

I am curious about ifit's hard to get approved, how long it takes to find a decent tenant, your experience with inspections, etc.

Would you approve applicants without a verified rental history? 

Red tape = dealing with the government, getting the house inspected and approved, learning the procedures of Section 8 so you do everything the right way.

. - Make sure you get a security deposit and perhaps do a surprise inspection of their current home.S8 requires an inspection (mostly health & safety) before approving a lease and then annually thereafter. - Not something most landlords taking care of their properties have to worry about.There are limits to clauses they allow in your lease.

I’m having troubles getting approved for the loan. 

The only downsides I’ll gripe about is the time it takesto get used to the move in process of adding a tenant (if you already have people) and that I don’t find it mobile phone friendly for doing a lot of work however short quick hit issues are great on the phone.  

Deals with approved ADU plans are especially attractive because they offer a higher return and flexibility for future buyers, making it a prime investment opportunity.