Purchase price: $140,000 Cash invested: $550,000 I am in the process of building a 2,800 square foot new construction duplex!

As I build my revenue I plan on expanding to buy and hold deals, so I need something flexible.

In Chicago, there are quite a few buildings with illegal garden units, and I thought it might be possible to live in one of those while I'm trying to make it legal with the city but would that be against FHA guidelines or conventional loan requirements?

Will reach back out to you when I am ready to move forward....

Then you will have your inspection fee every three years that will vary based on the type of building and how many units.

There is the those that have to sell and yes they are probably selling it distressed or a forced sale- but as you mention if you look at this listhttps://www.nmhc.org/research-insight/the-nmhc-50/top-50-lists/2023-top-owners-list/These companies may have some strategic liquidations but they can ride this thing out.It’s the syndicators who promised people cash and took at short term debt because they played the lottery thinking they could flip a multifamily building thinking prices always go up and cannot now handle the debt burden.

Pulling out of building additional buildings we had planned.i. 

Rather, it's selling the property and investing in a multi-family value add fund (total ~ 7-10 buildings).

If you are planning to spend time in any of the units during the first year the best thing to do would be to communicate to the lender that the building will be occupied as both a primary and secondary property by the owners. 

You don't say where you are, but for much of the country, larger sheetrock jobs run between $.80-1.10 per square foot of wall space -- that's labor and materials for hanging and finishing (ready for paint).