The ideal situation would be something affordable in the west suburbs of chicago that's a duplex/triplex/quad type of situation.We don't need positive cashflow since they would live in one of the units, but if the other tenants could get close to paying 50-100% of the mortgage that might be a good enough solution for them.Any safe/liveable neighborhoods you'd start looking idea?

Any suggestions on where to look or ideally someone has done something similar.

Ideally once I had rent money coming in and also other sweat equity gains from improving the properties, I'd like to get the original cash back out.  

I prefer 2 bed/1bath, which attracts my ideal tenant situation.

Ideally I would just be purchasing this with cash but I do not have access to that amount. 

Ideally, I'd like to find something zoned for mixed use.

Always check what avenue is a best financial fit for your budget and go from there 😊

While they fit the latter part, I am nervous to violate any laws. 

By analogy, this would be like having airplane passengers wear parachutes instead of focusing on what it takes to keep the plane in the air.I think a better way to protect your equity is to:Maintain the condition of your properties and operate fairly and ethically with constant regard to the lawPurchase insurance to cover any inadvertent negligence and/or simple bad luckVest title in a business entity that fits your partner, business, and tax strategyGood luck on your purchase.

I'm definitely open to learning more about the market to see where/if I can fit in someplace.