Chicago is indeed a vibrant market with many opportunities, especially in the multifamily sector.Here are some tips and considerations as you prepare for your move and property purchase in Chicago:Research Neighborhoods: Chicago is a varied city with a wide range of neighborhoods, each with special qualities and investment opportunities of its own.

And, they have a wide variety of structures and risk/reward ratios for different types of investors (from no leverage to leverage, different sub asset classes, different geographies, etc).

Another avenue to consider would be "subject to" deals but those are not widely available and can take some time to sift through the overinflated offerings to find the right property.

I sometimes set him up with my loan clients.Since I set up loans every week, and deal with a wide variety of sources for the loans, I see what the lenders do to reduce risk.

I generally am focusing my search on a specific market, specific location, or maybe a major retail corridor, so I'm not casting a very wide geographical net. 

Unless you are doing an A grade area, just get a better quality paint that covers in one coat.Cutting in: This I've always hated, but the job is easier if you get a nice wide, quality brush and a bucket you can hold in the other hand.

Terms can vary widely in this category from annual interest rates, prepayment penalties, income calculation, DSCR ratio, maximum loan to value, minimum and maximum loan size, amortization period, and requirements to escrow taxes and insurance. 

That gives a wide latitude for interpretation, especially for a buyer looking to get out of a deal. 

A basic list of just absentee owners will give you a pretty wide range of owners. 

You will find rates and terms vary widely.