Market might be competitive but there is angles to stand out depending on what you are comfortable and able to handle, such as waiving an appraisal contingency, limitng inspection rights and time frames, closing time frames, allowing seller to stay-post closing, taking on difficult tenants, buying properties that might need repairs, etc.

Washer/dryers are often abused, so there's the initial cost of purchase and the risk of increased repairs.

Similarly, My mother-in-law went to live in assisted living homes rather than us having a guest house in the backyard of our current home where we could have hired a nurse full time to be here with her to take care of her at our home.

I figured using my primary equity could assist in getting that loan just to show as reserves 

Would love to assist or answer any questions for any of you guys. 

Happy to assist any way I can.

Lowering your standards invites expensive evictions and repairs. 

Since the repairs were two owners ago, I would think the town may be a little more lenient with you.With the new kitchen and bathroom, were they existing and just got renovated or were they added on?

Hey @Brad Roche - We do a significant amount of renovation loans (both Fannie May & FHA) here in Chicago and prefer the Homestyle loan only because it's less stringent on the borrow about what they have to repair, and they provide the general contractor a material draw at closing which helps the project start on the right foot.I thought the minimum down payment was 5%.

I would say that the value he brings is finding the deals, doing an initial diligence, having a local team set up for renovations/repairs/property management as well as knowledge of the neighborhood.