Addendum states: - Buyer to provide financing for 70%. $225 X 70% =$157,500.

There shouldn't be any need to negotiate them as you would negotiate rent, they just are what they are, and the owner is required to provide proof of those costs to you.

Can someone provide me with some financing ideas other than the two that I just mentioned that would enable the other heir to receive cash from their portion of the equity based on its current assessed value and allow me to take ownership of the home, subsequently remodel it, and rent it?

Based off the numbers I provided above, how much could I get out?

I have house hacked 3 times in the Logan Square & bucktown neighborhoods.It will probably easier if you can provide some more details on the analysis....maybe consider BiggerPockets calculator. 

Based on the new information provided by the City for what can Qualify; I would say this likely could Qualify for an Express Permit.

I still have it today and provides almost more cash-flow than any other property I have.

In order to try to provide value to the community, let me try to to just that here.I wouldn't doubt the murder statistics mentioned in the article.

All the housing agencies send their voucher holders there.Just be forewarned - many S8 voucher holders don't want to pay application fees, provide any documentation, expect you to fill out their S8 paperwork (!)

Check your competition to see what you think you can get away with without hurting occupancy too bad.Similar answer on hot tubs and other amenities.