This way before you even acquire your property you already will have a general idea of who you will need to make relationships and how you will need to position yourself to see success. 

KCCH provides unique opportunities for small-balance investors to access exclusive offerings in the burgeoning South Florida residential real estate market through private capital equity partnerships.

How is required capital to buy & maintain a property positively affected by S8 program? 

@Caroline KnightI don't know the Chicago market but I'm highly supportive of house hacking.One thing to remember that positive cash flow isn't actually the goal of a house hack. 

The lender must review and approve the renovations in advance, and must inspect the completion of all items that cost more than $5,000.A borrower may request reimbursement for their payments for the cost of materials or for the cost of properly documented contract labor, but not for the cost of their sweat equity (labor).

My book does go into detail on these as they are the biggest potential issues.  2)  The seller changes their mind before you purchase -  my book goes into detail on this but it is important you file what is called a memorandum of lease option - so they can't sell it to anyone else or refinance it to pull out their equity. 

Do the calculation for return on equity. 

You said to create LLC when equity hits about $1 million.  

Please note, none of us have any idea what is going to happen but every investor should look at certain scenarios to see how that would impact their portfolio. easy, every smart guy moving from equity investment to debt investment like that's what happened these days but it's dangerous too when everyone is chasing "Chris investment model" LOLwith today's interest, only Nvidia and some tech can survive, Chris, most business in America is started dying anyway....

I'm going to start out with first position mortgage foreclosures (probably not the best idea to jump into a second position or HOA foreclosure until I fully understand the process), but even with the first position foreclosures, some of these deals seem too good to be true.