@Latrise Hortonundefined I can help you in Chicago proper on south side but we do NOT venture into the burns at this time.  

Bank isn't down to let you burn their money.

Many investors got burned by trying to do this back in 2007.

Seller does not own free and clear, he's only owned them around a year and supposedly isn't willing to hire a property manager and is a "burned out landlord".My initial plan is to originate two bank loans (one for 8plexes and one for 12plexes) my problem is I only have enough for 15% down payment on the 8plexes so I'm wondering if anyone has ever done some creative financing where they ask the seller to pay the down payment (20%) on their own property so as to originate the new loan that will provide them the overall offer price to seller?

If we could I would like to have the margages be low enough so we don't have to rely on the rent and it can just take care of it's own unit and anything left over I'll invest. to keep the momentum up we are ok staying here untill we have enough to put a fat down payment.We were thinking if the morgage taxes and insurance were about 500 to 600 a month we could comftorably live off her income. but I am not sure it's not exactly the sane as rent there are more expenses to owning a home

Builders were burned big-time in the crash, and the ones that survived have primarily focused on the high-end, high-margin larger homes.

would you need to install to make sure it can get aired out in case something burns?

Those “appreciation” properties now burn cash.

Sure you need to maintain some safety cash in case your loans get called and you need to refinance into a higher rate mortgage...but the majority of the people who were burned in the last crash were flipping on razor thin margins in hot markets or were taking negative cashflow on investment properties expecting the appreciation and tax incentives to bail them out.

Being fat, ugly, no acting talent and I can’t sing