He teaches Flip houses using OPM and fees is between 11K-15K. 

If you're in an area with high demand on contractors you'll probably pay a higher per sf price than in some other parts of the country for a new build. 

The desired area is next to a university and a hospital, and only about 15 minutes to downtown Denver.

This can get you a lower rate without doing FHA because that will come with a fee for the life of the loan.

If your targeting a payment of $2300 that means that you need to make at least $4,600 per month gross or $55,200 annual gross.

It appears that it has been popular for at least 30 years and 1980 and 1970 numbers are similar, around 8m per year.

Hello Murray, Assuming the new owners are interested in selling, you'd want to offer enough to help them cover their transfer taxes, legal/title fees, other closing costs, and possibly their moving costs. 

The house did 7500 per month in STR income. 

Per the Chicago building code, you'll likely need a second stair.

In order for me, the seller, to assume the risk of you not qualifying for the loan, you losing your job at the last minute, you changing your mind, etc, I'd want a higher offer price - which means you're bringing even more money to the table.The idea of an assumable loan is awesome, but frequently does not pan out.