Martin,Indiana is a great spot for LTR/STR right now South bend is a popular spot as well as all around Carmel by the universities.

Depending on your credit score and the history it is possible to qualify for these types fix & flip loans.

Then you may have to do this via a TIC or a merger type transaction.I would discuss this with your CPA a 1031 expert in your area - presumably the person who will be helping complete the exchange. 

We messed around with having low skill or runner type of people sitting there, but then they were not 100% sure to talk their way through scenarios nor did the inspector have any rapport with these people.  

I'm looking to purcahse a triplex or 2 unit using fha loan also live in one unit. any advice on which suburb of chicago is good to buy this type of property or where i can find that type of property spending no more than 350k. any advide will be very appreciated 

@Jason BoritzYou’re totally right you need to invest in the right type of property.

The downside, these types of loans are more expensive.

My experience tells me that there are probably 5% of agents that would be able to assist you with this type of deal and finding them would be very difficult.

Over 600k it's more of a write-off type strategy or a high end STR or MTR. 

The credit per month increases over time...a type of amortization if you will.