Also, I know that by law real estate agents have to disclose if things on a property are unpermitted to allow the potential buyers a chance to back out of the purchase if it's too costly & the real estate agent who sold my friend this property didn't say anything about any of the 3 out buildings that are on the property.

The market rent puts all three together at approximately $2900 monthly.Costs behind the acquisition:Property taxes: $5000 yearlyInsurance estimate for all three: $3,300 yearlyC-class properties (not best location, their condition is about average - older properties)Purchase price: $250,000k$15k down and $235k seller financed at 6% interest for 30 years. 5-year PPP.

Ok, now add in the first one, with 745 score, has a current aggregate balance on the laundry list of consumer credit accounts of about $38k.

Why do you think purchase contracts are so long and have such small print?

I am looking to purchase another primary residence after my 1-year mark however, I was wondering if lenders will be able to use my Airbnb income to help qualify for my next purchase?

The property I’m purchasing currently has a fence on 3 sides, but no gate(s).

I want to purchase out of state for a number of reasons (Landlord/tenant laws, tax purposes, purchase price, cash flow, etc...) 

BUT Your realtor should be a savant at non-conforming spaces- if you look to purchase in Chicago. 

We purchased it in November 2020 right before the pandemic at a purchase price of $330,000, a 3 bed 2 bath with a detached garage that was converted into a small room.

Not a good idea for some of the same reasons-high costs of purchase combined with inexperience and renos gone bad/out of control.