Hi Johnathan & Tony,I invested in Chicago's Oak Park area in 2016.  

Our primary is a 1400 sqft 3 bd 1 bath wood frame home with a 2 car carport that sits on just a hair under an acre, with mature pecans and oaks.

@Chip Chronister  unless you get a knowledgeable local to post you need to see an attorney in your area. 

Jeff Schluer I'm a multifamily apartment investor in the Oak Park area and I've been in a hold position for over 10 years.

Second, I found many paint chips inside the building and I believe it is just due to its age, also one broken kitchen cabinet which only needs minor repairing and 2 windows with 5 inches long crack in the basement unit.Other than that, it is a pretty nice legal 2 flats property.However, my agent told me that the VA appraisal is not going to approve the mortgage since they think it is not in move-in ready condition.

Then take your story to North State Bank, Capital Bank, or better Paragon for MF or Four Oaks Bank for new development.

On that note, can it be a useful negotiation strategy to execute an option that you KNOW is overpriced, just to get the seller engaged and "agreeable", and then at a later date, chip away from the option price from facts about the property previously known to you or uncovered during the due diligence phase???

Blind faith, and keep chipping away. 

., new paint, new appliances, fenced the yard, all new fixtures, and painted the cabinets and anything oak went to white with grey floors and paint.

I will be at Oak Park Brewing in North Oak Park on Saturday March 24th at 3 pm.