I'm currently struggling and thinking that instead of me just transferring over the payment to the buyer, i'd instead have to pay off this whole 48k in order for them to get the funding to purchase this house.My first thought was (well i'll sell to someone else then), but upon some further research i discovered that all FHA loans will not lend to a buyer looking to purchase a home with a PACE loan on it. is this true?

Joliet is ok, depending on the location within, Will counties taxes are not as bad as cook counties.2) To find a true deal, you will have to look off market.

Then I actually tried it and listed houses paying only 2 or 1.5% to the buyers agent and I learned it wasn't true at all.What I learned was my houses sold just as fast with lower buyers commission rates, and that was the case back when it was a buyers market as well as more recently in a sellers market.

@Mike, Very true, I'm sure Joyce found a good fourplex and that is a good area in NW glendale. 

When you say its a cash business the owner is going to give up the true value of the property unless they want to be the bank.

May closing is a ways away, what type of property is it, is it a multi or true commercial? 

I believe it is true that FSBOs are the best way, I'll concentrate on that but will still keep an eye for any good ones that get listed.

Of course this was too good to be true and I was antsy to purchase my first property so I pulled the trigger. 

You are more likely to ruin any chance of true investing if you try to start with wholesaling since your reputation is everything and wholesaling incorrectly can quickly ruin your reputation with sellers, buyers, agents, attorneys etc.. and then that's about it for you.I know it sounds stupid but wholesaling is something that comes to you more than you trying to figure it out with no experience..

I guess the old saying it takes money to make money is true!