What type of property are you looking to buy?

@Jesse Kerr the disconnect, in our opinion, is doing everything yourself and keeping it in your head VERSUS a good PMC having to document everything and communicate it effectively to all parties.As the owner, you can make immediate decisions, saving LOTS of time!

@Sara Emmanuelle Dube I would recommend have ALL of your documentation filed while at the same time offering cash.

My question is, if this is a deal that makes sense I do not have a lot of cash on hand - what type of lending would I be able to get or should I look for to buy and renovate this property.

These loans focus on the property's rental income to cover the mortgage payments, making them ideal for investors without well-documented or substantial income. 

It's good to meet another born and raised Chicagoan in the forums.I've found that the best thing is to stick to what you know, in terms of the areas and the types of projects you work on.

Finding a loan officer who comprehensively understands their underwriting guidelines and the nuances of real estate investments can significantly streamline the process and set clear expectations from the start.In many cases, lenders operate in a structured manner where loan officers initiate the process and then collaborate with processors to gather necessary documents and address any underwriting revisions promptly.

If you are under $2500 for taxes to me that is winning on price - just make sure they know real estate and your type of Real estate

Ruben,First time DSCR users have the same leverage as those who’ve used the loan type before.

It effects every aspect of the property and performance- the type of loans and insurance you need will change if you don't hold the property in your personal name.