The LTV ratio will reduce naturally over time as the loan is paid down and the value of the home increases.Depending on the type of loan requested, their LTV ratio requirement may be higher or lower and general examples of what it can be are given below in the table:Loan TypeLTV ratio requirementPMI requiredFederal Housing Admnistration (FHA)Up to 96.5%Required through loan periodVA and USDA LoansLTV ratio up to 100%Not required.Fammoe Mae and Fredddie MacLTV ratio of 97%Required till the ratio falls to 80%Source: Investopedia: Loan-to-Value (LTV) Ratio: What It Is, How To Calculate, ExampleDo note however, that the LTV ratio only considers a single mortgage loan when purchasing a property and doesn’t take into account any other money borrowed against the property.

Interesting @Joseph Konney...is there a specific Chicago bank or lender that offers that type of discount? 

Is there any type of insurance available that covers tenant damage to a property? 

I bought most of my MTR material Black Friday 2022 and today's price is higher, of course.

What type of role are you looking for? 

To get the benefit of taking your STR losses against your other ordinary income (and a cost seg would help to increase the loss), I think you want to make sure your average rental period equals 7 days or less, and that you meet material participation. 

This OP should be looking for a house that meets his needs, not a house that will need a 1200 SF addition built on it.I actually just did this type of project.

Home rents are appreciating more than inflation, particularly as home ownership costs such as insurance and building materials increase.

Get materials that can take some beating. 

A court order, law enforcement of all types (yes you saw on TV how a dude gets his "police" friend to type in their search on anyone), tax people, mine government... then all the hackers who are already in these systems can ransomware or just post it on the internet.