The most important thing you need to do is call around now and find a general contractor that you like and trust, and more importantly, is willing to work with you on a 203k and is aware if the information that will need to be provided and that will provide that information in a timely manner. 

Again, our credit will be good to go after the sale of our house proceeds pays off our older bad credit, ( I am aware it will drop first before rising once accounts are paid off)  I also just opened up a secured credit card to start building good credit per our lenders suggestion that is working with us to build it. 

Many investors want to stay away from them.

Hi @Patrick Gault,A lot of this depends on both on your time frame (for your first withdrawal) and how you define "low risk".If you are looking at needing the money in less than a year, the only "low risk" option that I am aware of is keeping it in cash. 

There are indicators to me that Cummins is here to stay.  

There are plenty of rentals in Aurora, Naperville, and a couple in Oswego but none specifically in Montgomery that I can find.There are a couple of hotels in the area, which shows there is at least some demand for stay in the area.What are people's thoughts/experiences on this?

Staying in the lines of the wholesale space...

I assumed that staying at home would be the best option for now.

The tenant would pay $75 lets say per month to not have to have a deposit, your betting on that they will stay more than 12 months.

But, since you asked, here are a few items to be very aware of when you're reviewing your insurance program:Matching the property to the correct type of policy: Every type of property (single family, 1-4 multi-family, 5+ unit multi-family, vacant, rehab, commercial, etc.