I have about 35k I can put towards this project as a down payment and to fix up the house.

Here's a link I included to my rental analysis and assumes a purchase of $64k, ARV of $85k, LTV of 80% and includes taxes, ins., management, etc..

Assuming it works the same way in Illinois as it does here in California this would be a perfect project for a hard money construction loan.

Unfortunately, the project ended up being larger than anticipated after the sale of the home and resulted in around 60k per unit.

I operate in Colorado as a wholesaler currently, but am always projecting forward and looking for ways to 10xArizona is in my sights for next, along with Nevada and California.Would love to hear about how you run your business.P.s I'm a full time RVer and love the outdoors and can sometimes be a nice guy myself

Considering your posts below, your project will not cost 10k and 7k.

With a project we have considers using shipping containers as an alternative to brick-and-water (due to delivery cost we parked that idea for another day).

http://www.pewtrusts.org/en/research-and-analysis/blogs/stateline/2016/08/18/where-millennials-are-more-likely-to-live-with-mom-and-dad

Consider this his prep work for the project so to speak. 

But mostly private and hard money lenders to help fund my future projects I find.