For a moment, try on your creditor's glasses:You'll find that banks are designed to say NO.

Happy to explain further.

Does having the deed give you bargaining power when dealing with the bank to purchase the home?

Refinance as an owner occupantMy other options are to buy a small condo (probably only a one bed) or just wait until I have more capital acquired to get a conventional bank loan...I am so so ready to jump in & will consider any creative financing ideas...I know once I have a property it will be an income generator for me!

The Act requires for any debt collector that is not a bank, or lending or financing institution, to be licensed as a collection agency in Illinois.

So, it would be smarter to let people see the unit but prepare legitimate reason for not renting - credit score, income requirements, etcDon't take application when/if you know you're not going to rent them or they won't be qualified.Application fees are not refundable but I do read them whole list of requirements and explain in details.Like:"if you ever had an eviction, don't apply - the fee is not refundable", and eve explain that eviction is not their things thrown out of a house but simple process when their landlord file anything against them in the court.You can tell them on the phone though that you've just got an application and processing will take few days with your accountant, they can see the property but you won't take an application at this time.

When they get experienced enough with a track record they can sometimes get bank financingIn my opinion, a condo conversion is not a good first renovation project. 

Ask the bank in South America for a $65k against my property?

The short story is that my ex-tenant owes a bunch of money and when it comes time for court, I intend to explain this to the judge and ask if I can increase what is owed.  

Should I set up a separate bank account for the rents, deposits, and utilities to segregate my personal income/expenses?