and see if they are high enough(like $500 bucks...) which could make this deal a little more attactive.One caveat to this deal is that if you plan on running it like an apartment, then your valuation is compeltely different and maybe this pricing will work for you....which running it like a horizontal apartment is not necessarily the wrong thing to do if that model works for you...but keep in mind it may limit your exit strategy or ability to get financing.best of luck

@Benjamin M pitassi Are you looking south suburbs or southside Of Chicago within city limits?

It is usually just a sales gimmick and most of those people the word "limited" really is usually not "limited" in any way. 

Now, I do have a full time 40 hour a week W-2 job and a family, so my time is somewhat limited.

As for commercial mortgages there is not really a limit to how much commercial debt one can obtain so you won't be handcuffed at a certain number of mortgages like the 10 on the residential side. 

I would strongly recommend that you instead of starting with a foundation company, have a structural engineer come out and take a look at the property to get a feel for exactly what foundation repairs are needed.You can then have foundation companies bid on the engineer's report to resolve the issues to avoid a situation where you are allowing the foundation company to come up with the estimate themselves as I have heard that foundation companies estimates tend to come in all over the place without an engineer's report to work off and limit their repairs.I will PM you the guy that I used for a property I was looking at recently.   

@Molly Morlino I can vouch for the limited storage spaces around that area.

However, just in my limited knowledge and an attempt to contribute I think the general rule around is 10 loans to a name and then you'd need a portfolio lender to be doing anything past that.

It seems (in my limited experience) that every time one approaches a 'realtor...' they either consider an REI a "competitor?"

They're now angling for rent control.