I don't think anyone with Chicago knowledge is going to be able to tell you something that will help you mitigate the risks on this.

Lend to Live: Earn Hassle-Free Passive Income in Real Estate with Private Money Lending. www.biggerpockets.com/lendtolive.

Is the knowledge helpful in this space, any particular specialization, entrepreneurship focus... etc?

If you shoot me a DM I'll send you information about our upcoming Free webinars and other resources we've created to empower local entrepreneurs and investors to transform underutilized properties into awesome community assets that benefit all.

Their skip tracing is FREE.

I own a 1 bed 1 bath unit overlooking downtown from a huge balcony, 1 car spot and free heat and hot water for $2200.00 and it has been sitting in the market for 60 days now. 

Then goto rocketlawyer for free operating agreements --- and the irs for EIN.

Working with a knowledgeable mortgage lender and real estate agent who understands the local market and available programs can also be invaluable in guiding you through the homebuying process.

Greetings,I am a recent Civil Engineering college graduate, and I am looking for advice on how to secure funding.The deal is located in FloridaI am currently in process of purchasing the Land for $18k free and clearI will be building an 1100 SQ/FT home construction cost will be around $130,000What are some ways I can secure funding as a 21-year-old inspiring developer? 

Feel free to DM me if you would like to check it out.