Buying a Multi-unit, preferably in an up and coming area in Chicago and using an FHA loan and living in 1 unit.My price point varies, with the SFH I am looking to keep it under $275,000, while the multi-unit with the FHA loan, I would look for something a bit higher, close to $400,000.

I prefer to work for my money, and I'm hard working. 

Some of them will even help you with the pre-approval process through their preferred lender.If you want to be their first go to guy, don't be a pain in the rear to deal with.

Preferably a 50/50 deal without me having to pay an arm in leg to get started. 

Peeling paint, ripped screens, bad roof, broken windows, damaged siding, wood rot, chimney falling down, etc. are all things (and more) that they will cite you on.Personally, actually living in Milwaukee, I prefer rental properties to be held to a standard of decency because I don't want rentals dragging down the neighborhood. 

We prefer to work with local financial institutions that service their own loans.

I'd go with neutral only if the colors you chose in specific rooms were very eclectic, difficult to match to a wide range of furniture, and might be  a turnoff to a wide range of renters tastes.

I'd prefer to see you pay retail (as long as it cash flows), get the unit rent ready and use your brokers license to find your own tenants so, at least that way, you have more control over the investment.

Most lenders would prefer not to do construction financing if it's avoidable.

I also prefer showing appointments vs. open houses to prevent that stampede atmosphere.