Jason Lawrence jay pretty much hit the nose on the head.

You will need to pay the annual registration, Registered Agent in those states and then file a tax return in Illinois as a Foreign Business Entity which pretty much blows away all the privacy and no taxes due in Nevada or wherever these folks use to sell their snake oil. 

HOA fees are pretty steep, $300 or more.

Never been there AH  you will no doubt love it or at least your wife will I bet... go by  7  New st.. the horse carriages go by there That's one of my new builds if the contractor is there his name Is Troy and tell him your a friend of mine and he will show you through..Also if you google  8 Woodal  go check that little street out I built all three of the new builds there .. and they are pretty cool but it gives you the idea of how things were 200 years ago with these tiny tiny streets and then you can appreciate how difficult these builds are with no room to move..  

Since I starting college next year my funds are pretty low and I don't have much credibility for a loan.

But the rental market is pretty good right now also.

Like I said above, limiting to “VA-only” lending would run dry of talking points pretty quickly.

Since I'm pretty new to this, I have a few questions I hope you can help me answer:1.

I am just starting out, but I my hubby and I did really well on our first fixer upper, and want to continue the wave here pretty soon.

But she was pretty nervous at first.I think it is so important to be united and in agreement with your spouse on the idea of investing.