Don't do the bank any favors.

Wish you the best and hope for a favorable outcome for you!

With the general uptick in sales during the spring, I am assuming that will increase my chance at finding a favorable listing.

Therefore, owner financing is not as much of an essential or helpful tool when it comes to marketing the home to prospective buyers as it might be in a softer market, or one with less favorable financing terms and options.

Pretty quickly I had a list of 10 that were favorable, and this was after people told me that nobody would lend to me.

Here, it is a promissory note, separate deed of trust with power of sale, and warranty deed conveying title from seller to buyer with vendor's lien in favor of lender. 

You have received great feedback thus far, one thing I would like to add is that it increases your NOI if you choose to charge it, making it a value add play (which is why it is favorable). 

I'm now being told the sellers concession needs to stay under $3500 for them to be able to UW to 80% of the purchase price ($124,500) if the seller concession is greater than $3500 than the leverage will be based off the purchase price minus seller concession, so 80% of $124,500-3750 ($120,750)The leverage on the loan is 80% LTV or LTC, whichever is lower.I'm just trying to understand this because I thought it worked out in my favor. 

I believe the landlord laws are less favorable in IL and Chicago than in Atlanta, but when talking small multi-family, with good tenant screen process in place, that should have minimal implications. 

Gas isn't available but I would favor it if it was because it has historically cost me less.