Assuming it works the same way in Illinois as it does here in California this would be a perfect project for a hard money construction loan.

Unfortunately, the project ended up being larger than anticipated after the sale of the home and resulted in around 60k per unit.

I operate in Colorado as a wholesaler currently, but am always projecting forward and looking for ways to 10xArizona is in my sights for next, along with Nevada and California.Would love to hear about how you run your business.P.s I'm a full time RVer and love the outdoors and can sometimes be a nice guy myself

Considering your posts below, your project will not cost 10k and 7k.

With a project we have considers using shipping containers as an alternative to brick-and-water (due to delivery cost we parked that idea for another day).

Consider this his prep work for the project so to speak. 

But mostly private and hard money lenders to help fund my future projects I find.

I began scouring foreclosures, REO’s, and craigslist.Eventually, I came across an SFH REO that had been on the market for 15-16 months.It was initially listed at $89,900, and was down to $39,900 by the time I looked at it.It clearly had plumbing and a kitchen for an un-permitted 2nd unit upstairs.The conversion from SFH to duplex would be easy.It basically needed everything.I decided to put an offer in.I felt like I could make the numbers work at $25,000For those still reading, here was the process: My initial offer was $10,000 w/ $500 EMD all cash.They countered at $35,000I went up to $15,000 and they stayed put (oops, over-played it)So, I counter at $17,500—best and final offer.They counter down to $25,000 w/ $2500 EMDI email my lender, and let him know that I am at $25,000 (he knows that was the target was), and told him that I wasn’t done and wanted to bring him down further.He says “Let me get this straight.You got them down from $40,000 to $25,000 which is 37.5% off asking price, and you want to get them down further???”

I'm basically currently doing what you're suggesting (driving for dollars, non yellow letters, etc.).  

Its Fannie Mae.Debt is difference between projected Payment - and projected Rent.