So i think i found a deal which is out of are price range and wouldnt work for buy and hold anyway.

Depending on your price range you might be able to finance the property with your own funds then refinance after 6 months for 70% LTV or right after the rehab for 65% LTVWhat price range were you looking at?

@Jay Maranan I would be cautious about a flip in the million dollar range.

If Midway is an option then that opens some opportunities to live or invest in areas like McKinley Park or Wood lawn or Brighton Park which might have multi's in that price range. 

@Vania Nettleford Oftentimes renters / roommates in this age range are fairly transient.

Paul it depends on the population density of the area - typically no more than 3-5 unrelated adults is the range.

Most of our rentals are in the 900-1200 range, with multiple adults living there.

A balloon payment requires payment of the entire balance within a set time period that may range from three to 15 years.

I'm getting a wide range of responses, which makes me hesitant to push back at all on the seller.  

What's interesting, is that we have a ton of older homes in this size range here in town.