Of the two methods listed above I would say driving for dollars would have the highest ROI.

It's a coin toss.I'm sure that I would have to speak with a real estate attorney regardless.However, I would like to know if anyone has acquired property using this method and what your experiences were/ are in these types of deals...I'd love to know how to grab these before they rot away and fall down.Thank you so much for your feedback BP as always!

The idea is not to use just one method; idea, trick to getting your properties; sometimes you have to be creative.  

Rather:  always think, consider, ponder, create, innovate, and adapt.  

“Reasonable people adapt themselves to the world.

Is there really a method to the madness or is it just shop till you find the lowest possible price?

From what I've heard you need to buy sight unseen and as is, so I'm curious if you just factored any surprises in the price or had some other method.

Still, the easiest method is to purchase for cash (of which I don't have but I'll find those private lenders out there that are easy to find).

To answer your question FHA is the easiest way to buy this 2-4 unit property building if you dont want the underwriter to question the distance/commute of your main income source then you can use the "kiddy condo," method which is you are the primary occupant and the income used to qualify is from a co-signor on the loan such as parents, family, or relatives.If you have a job the UW it may draw suspicion like another LO above mentioned since its not realistic to have a primary residence that far from your occupation.

There's a number of people here who invest in Chicago using different methods.