I checked local commercial properties to match the rents. 

If you like sharing what you've learned with others and also learning from a community that waaaaay into the deep dive and strategy know-how might be worth checking out.

Also check your inbox, because I am sending you a message shortly about connecting and talking about house hacking since I am trying to go down that path to.

Check out chicago wholesaling groups on Facebook.I am not sure you could say the law is settled down because no one still has any clue who or how it will be enforced.But wholesaling here continues... mostly unchanged from what I see although some are certainly getting licensed.

Maybe you just need to check some box or put the numbers in a different spot.You aren't even posting here because you have an investment, right? 

Even though they cover all the costs, you'll still have to pay for closing expenses, about 3-5% of the loan amount.These loans are better for people who know their way around real estate, not so much for first-time buyers or those new to this game.Talk to a money expert, check out different lenders before you decide, understand all the risks, and look into other options like FHA or VA loans—they might be a better fit, depending on your situation.

I'm also trying to get an answer on this, but seems like there are far more assumable commercial loans than there are residential, but from what I can tell, it's just a case by case sort of thing and you have to check within the loan docs or with the original lender to find out if it applies to a specific loan. 

You do need to check electrical, plumbing, sewer, etc.

Finally, it was sold on May 17, 2023, for $265,000 (check it out: https://www.redfin.com/IL/Chicago/8903-S-Union-Ave-60620/home/13108431).

always background check your contractors even if you know them, always do a bring down report fully before moving forward (but after the contract is signed for purchase), get to know the neighbors they give you more insight into everything.