(BTW, the owner is completely broke to the point where he had all utilities in the home turned off at least for the past year bc he cannot afford to pay them.

Do you think this would help at all if it was affordable.

Response to Angela DeBorjaI believe you need to be where sellers, owners, investors and auction bidders are to really be market wise.Learning this business has many advantages, but also giant pit falls; tenants suing you, not paying rent, rent escrow, no income (mortgage must be paid), repairs, unnecessary calls.negotiating with sellers can be distressing; tax sale, mortgage foreclosures, health issues, bankruptcy, estates.Bidding on tax certificates, lots of competition.I like to avoid the competition and deal directly with people who really want or need to sell.Go where you are respected and appreciated - to the sellers who want an offer.Rent court - who goes there - tenants who don't pay and----- and landlords with tenants who don't pay!

i guess the biggest question is can you afford the payment if the other units are unrented for a few months?

Not only will most sellers require that your financing/proof of funds be in order first before entertaining any sort of offer, but you also want to know how much home you can afford based on your income.

Super affordable and great info and they have a great mobile app too.  

I will definitely look for a mortgage broker that can give me further guidance on NHF's program.We will probably be seeking an FHA loan to put down below the 20% = probably 10% is all we'll be able to afford (assuming 200-300K price range for the property) in order to keep some form of maintenance / repair slush funds available to get started with so we shall see I suppose.  

I imagine some areas of Chicago are fairly affordable.

***This is despite him having had BSBC health insurance at a price of over $700.00/mo.*** Fortunately, his brother is a millionaire and can afford it.

We were absolutely unwilling to pay more than we could afford.