Definitely a few more options to consider; like refi-ing and getting your cash out regardless. 

What are my options?

Therefore, I am not sure what's feasible in regards to 1) finding an affordable multi-family out that way and 2) what the unofficial neighborhood ratings would be out that way.I'd appreciate any advice as I consider my options, and a referral or two wouldn't hurt as well.Thanks,Phil

I also like the battery powered lock boxes with a hard key option (just in case)

Are single family’s an option ?

Chicago's lawn offers a variety of options, including residential areas with good amenities.

Don't use it as a long term financing option.

It's a great way to get a foot in the door and it provides more lending options as well if you owner-occupy.

We are supposedly getting that option at the end of this month.

I recently came across this "FHA construction to permanent Loan" option which seems almost too good to be true, so I wanted to get some input on how this works and where I might be able to find a lender.