Thanks to my high W2 income and not having any debt, it would also be easy to get approved for some cheap 2.x% financing.

Thanks to my high W2 income and not having any debt, it would also be easy to get approved for some cheap 2.x% financing.Having never owned real estate, a good way to get started would be by owning my primary residence for a while, with the intent of eventually renting it out in a few years and in the meantime seeing how I feel about maintenance and home ownership in general.Unfortunately, the areas I am looking at are in very high demand (River North, West Loop, Fulton Market), and have prices such that I would at best barely break even with rent after taking into account HOA and taxes ($300k-500k range for 1-2 bd, HOA in the ~$500/mo).I understand condos in downtown are generally a bad investment, but I really don’t want my quality of life to suffer by moving far just for the sake of home ownership.

I was pre-approved for 800K-1M with FHA and actually have found an agent via this forum.

Should we incorporate and handle the income under incorporation or leave it as personal since the finance is approved from personal side and not for incorporated business. 

I recently found out after talking to the local zoning/plans department that I'm zoned R3 and only allowed what I currently have.My question: Is it worth the time or likely to be approved to attempt to rezone my lot and build at least 3 more units?

The process as I understand is we create a trust account and the SDIRA would be owned by trust and managed by IRS approved administrator.   

It is not up to the debtors or their attorney but the Chapter 7 or 13 Trustee to determine.

Problem is, I’m not approved for a loan of the amount that I need.

The land is in a shape of a triangle I will attach image below and it is a total of 124,502sqft The issue there is power lines running on it towards the south part of the land (See images) With that said I am trying to figure out what I can do on this land I was thinking limited restaurants like rent it out to food trucks maybe 8-10 food trucks but the city is still going through the process of approving that.

Get pre-approved.