I love that you have specific goals for 2025 - I believe if we think it, write it, say it, and share it our goals are 10x more likely to come to fruition.Are you able to do option 2 and just house hack a 2-4 unit building and use a renovation loan which allows you to put down 3.5-5%I highly suggest getting to some local chicago meetup groups (we have an in person one on the 17th)...here is BPs list: https://www.biggerpockets.com/forums/521-real-estate-events-...I also have a full list of the chicago meetups that I can share with you too if that'd be helpful.

However, terms are negotiated specific to each project. 

It has to do with the professional way you've handled yourself, the good communication with our team and the fact that you are closing your first house with us.  

The short-term rental (STR) loophole allows for different treatment of rentals with an average stay of seven days or less, but this doesn't change the REPS hour requirements.There is no official IRS form specifically for documenting REPS hours.

Income will depend on your plan for the specific asset. # of units doesn't necessarily equate to how much income you could make.

Worth a discussion if you want to send me a DM I can connect you with my team’s DSCR specialist.  

I'd estimate your cash flow after you pay the loan payment would be $600-$800, which a lender that understands investment real estate should give you some credit for on your DTI.As for a bank, I have a specific lender at NBI that I would recommend.

I’ve never had this specific issue but mistakes like this are pretty common. 

Don't have any land specifically, although we've got a small town about 40 minutes north of Baton Rouge we've been investing in lately that seems to have some demand.

Hey guys,My team and I put together a 5-Minute Deal Evaluator that helps people quickly underwrite deals in about 5 minutes!