I am in a pickle and wondering if any of my Chicago peeps have been in this situation and how they got out of it.My clients bought a 2 flat with a coach house in 2018 and were issued a 3 DU cert. 

Hi Aaron, The house is 4 bed so it made sense to try it.

Should I use it to build the big house and house hack (probably around 500k) ; or should I just take out enough for a down payment on a new property.

I'm particularly passionate about [ starting my own business on flipping houses..Outside of real estate, I enjoy  spending time w my kids ,, i love the outdoors alot and I enjoy making family memories .Excited to learn and connect with you all!

This has been our setup for over 10 years and I remember being told early on that liability insurance has to originate with the landlord's personal residence, whether it be a homeowner's or renter's policy. 

The last time I did an insurance MTR it involved my work truck, an alternating current generator, 150 feet of extension cord, a sawzall, an appliance dolly, my 14 foot trailer, a house with fire damage and a $3000 Samsung French door fridge.Don't expect to make any money without doing any work.

Dave was great because not only did he answer my emails, he made sure he put the right “exchange” person in touch with me depending on what was happening at the time.

Not the best experience but I believe that was the person ...not the section 8 program.

Impossible to tell which would benefit you most.I have found that lenders value the house in different ways; one is a full appraisal and the other is an automatic valuation…my credit union did a “drive by” valuation.  

Look at the side(s) of the house that gets the most weather (south and where ever direction your winds normally come out of).