Except for my emergency fund, all of my savings has been going to my 401K since that is the only tax-break that I receive (contributing 18% of my pre-tax salary). 

The only exception to this is in the case of a short sale where they’d take $3k as long as I make no money on the sale.

Operating as an unlicensed broker there is not any real possible consequences for dishonesty, etc except possibly through the courts. 

- We heard about FIRPTA, and the place will be less than 300K most likely when we sell, but I do not understand why the exception requiring the buyer using it as primary residence?

I recently got rejected from one of the local credit union because my second home doesn't qualify as second home since 1) is less than 50 miles from my primary residence and 2) there are other people living in there except myself... this is really tricky field 

They helped me with a few deals and I also went to them when we formed a trust - both experiences were exceptional for me personally.Best,Nate

I believed I had to cash flow while living in one of the units, but if all goes well and they except offer I'll help pay and cash flow after.

If you want to 100% finance, there is really only one way to do this (needles in haystacks excepted) and that's to finance 75%-80% and raise equity for the balance.

I have never seen anything in the law providing an exception for a minor, military or someone in prison as long as notices were sent to them to addresses on file with the county.

In Oklahoma (I'm not sure about Illinois) a tax deed nullifies all previous liens except for IRS liens and city and county fees (which are included in the starting bid of a property).