Plus, very important to understand the new layout and how the dig down will effect the existing stairs, plumbing, etc.Happy to connect and talk through your specific situation because @Bruce Woodruff mentioned every project is different and know one price fits all espeically with these complex jobs.Where at in Chicago is your building?

So far, nothing.The point is that I believe people spend a lot of money, time, and effort protecting themselves against a non-existent threat.

The fact is that these laws exist in many places, including Salt Lake City, Utah; Logan, Utah; Hartford, Connecticut; and Newark, New Jersey.

Sadly, it seems that cash flow on long term rentals with 20% down just does not exist in most desirable locations.

The only other options I can see are A) your mom partnering with you rather then selling the property to you - you become 50% owner and bring the funds and management to the rental while she provides the existing equity as her contribution; or B) your mom lending you the rehab cash out of her personal funds while also seller financing the house to you. 

 @Sofia Komrskova The biggest selling point for me is access to the existing network of IMTR relocation specialists which would take years to build up on my own and I have had zero luck on BP getting any feedback specifically for relocation specialists. 

This is one area where it helps tremendously to have per-existing relationships with people in the industry such as family or friends.

This is generally why nonqm like dscr exists.

If you can't find existing meetups, create your own by organizing casual gatherings for like-minded investors.

I would anticipate a semi-guaranteed government run insurance program, similar to the national flood insurance program of some sort and perhaps connected to an existing department of housing program to manifest.