Chicago and Cook county have and play by their own rules.

I am out of FHA mortgages so I have to play the refi/payoff game as I find new properties....

@Anand S. everything that was already said PLUS (something to keep in mind AND continue to watch as government policy changes) is the unskilled / semi-skilled labor supply.

well played.

If you don't take any Consideration, you are not selling them the Option...you're Giving them the Option...and tying up the property for the length of time the Option is in play. 

@Curt Smith Again, not an expert, but from what I've read online and in the FHA handbook, 1) you only have to owner occupy for 12 months on an FHA, but it's 24 months I believe before they will take into account the rental income, 2) like @Russell Brazil said, you can only ever have 1 FHA at a time, and 3) the 100 mile rule is still in play even after 2 years of owner occupancy if you're moving from one place to another and still holding on to the first as an investment.

If I were you I would start putting money away, and if you're already doing this, continue to do so and live as frugal as possible.

Tenant has continued to make payments failed payments and failed to keep up property with violations from the city.

My goal is to buy land and build my dream home within 7 years in NC and continue building my portfolio and ENJOY life while I'm younger(ish).I do work a job, it is 4 days/week FT. 

Everyone's walking around just looking for a reason to play victim.