Depending on how good the deal is, scratch the owner financing and see if a bank will finance the entire deal plus the down-payment (kind of like a blanket loan on all 8 town homes with a cash out option) - this would require a very sweet deal. 4.

Goals, current income, your market, what kind of current or future lifestyle you want to live, your debt and monthly expenses etc etc etc.

By the sounds of it, you intend on spending a reasonable amount of time in the state, and so your personal enjoyment of the place is as equal a priority as the investment side.If you think you will be travelling back to Chicago a lot during your time out here, then a front range/summit county location like Jon has suggested might be in your best interest, so you arn't too far from DIA.If, however, your goal is to get far away from the highway, then come and visit us in Telluride! 

I would be interested in what kind of results you get. 

I just kind of jumped in.

A month ago, I was kind of tired of listening to the Rich Dad, Poor Dad episodes after only a few and searched real estate investing.

I appreciate the kind words.What's the best way to connect and learn with experienced investors?

Have you and your husband set specific goals as to what kind of MFR properties you would like to buy?

It just costs money to periodically visit properties. 

I spoke to another bank who said that going the FHA route brings all kinds of headaches  that aren't worth it and if I can come up with another 1.5% going conventional at 5% would be much better with less build restrictions although my builder said they are technically an FHA approved builder whatever that means.One Bank told me that I'd be better off going the hard money approach and putting 10% down for new construction but I always felt hard money is such a rate rip off.If any of you guys have any helpful financing solutions please let me know.My other issue is that in order to build one of these I'd like it to be in an area that is cool..location location location but a.