@Tyler Daniels Also, take advantage of the listing websites in your area.

You don't want to push too hard, but you also don't want to give him too much lee-way because he may see it as a sign of weakness and try to take advantage of you.

Preforeclosures and lease options aren't a good fit, unless you're willing to bring the note current, which nullifies one of the advantages of a lease option, that being controlling properties with minimal cash out of pocket. 

For all applications I receive but deny the tenant, I need to send them an adverse action letter via mail detailing why they weren't selected?

My 2 biggest pieces of advice... 1) If you want the fast track, get a mentor - but the RIGHT one...it's a crowded space and we definitely made a mistake selecting the wrong one the first time around (now we're with an amazing group and have closed over 400 doors in 2 years). 2) Don't fall into the trap of thinking you have to start small ...you don't. 

As a long-time LTR landlord, I'd rent them out long-term, but only for a year or 2 to take advantage of the tax free gain. it comes down to market timing ,  really. 

Advantages: you can scale, the building qualifies for the loan, numbers work better, the building is treated as a business and valued by the NOI instead of being valued by the comparable in the area.Disadvantages/Things you need to be aware of:  If you have never done a commercial deal before usually a little harder to get financing so I would talk with a loan broker instead of going to individual banks. 

Looking to take advantage of the new ADU ordinance in Chicago.   

The bottom line is that companies will lose their competitive advantage if they can’t hire and retain talent. 5.

There are many advantages to your plan.