However we are in a market with higher interest rates and prices haven't really come down.

I was thinking there was a reason as a landlord to do this and make it easier to adjust rates since you are probably going month to month. 

Hi @Norma Guardado, I would reach out to several lenders and compare rates/fees. 

You are probably better will serve to invest in the Chicagoland market particularly on the southside where your cash flow margins and cap Rates are higher much higher.

The ones that require leverage are not the greatest though (just like when leverage was cheap they were great investments)

Whether or not it is worth doing a cost segregation study on it or not depends primarily on your purchase price, the size of each unit and your tax rate.

But at times can be a good place to start to build up a portfolio and future cash for investment instead of waiting for your equity or the world to decide we can have low interest rates… which sounds like that’s what you are suggesting for me to do.

Commercial rates are lower for a user than an investor.

Im selling a home now that I hoped to roll the proceeds into a 1031 but everything is in limbo now because my bank may either kill the deal or charge much higher interest rates due to this error and lower than expect credit score. 

I’ll look into Lloyds of London for rates and terms.