It was nice at first as I was able to travel up and down the east coast visiting military friends I hadn't seen for a while and not having to worry about maintaining a yard or a house.

Our current home is a "destined to be yours" home, I'm beginning to get the feeling the one we're looking at may be another example.  

Frank is correct, the other three properties you must have 25% down for traditional financing, although you could maybe seek out private financing.

You also have the Hard Money loan route if you absolutely must move forward with the deal.If your family has money, why not use that monies to fix your credit and in turn you can pay them back when you run into a good deal or share profits on a good deal.Cash is king but like in the game of chess, credit represents a Queen which is the most powerful asset you can have in this game called RE.

So my read would be is that no matter when and how long ago your tenants signed the lease if they got a 6 years old or younger kid living with them you must do the testing.

If you buy anything from a single-family to a four family, and you use traditional financing through a bank that has been remarket it through Fannie or Freddie, there are often loan covenants that  State you must be an individual on the loan.

You never know until you ask.2nd scenario - As of now, before the bank can do anything with you on this property, the bank must first of all foreclose on the property to take over ownership - it is only then that they can talk with you - when this is done, it will be a little more expensive because of the attorney fees which will be added.

But median income is something you MUST take into account (along with another gazillion variables) when you purchase your properties,as it affects the sale-ability, how quickly and how $ profitable you can sell.  

Your agent must be a newbie.

Once you have completed the purchase you need to visit City Hall and "accept" the violations by completing a form where they will provide you an affidavit based on the occupancy of the property.If the property is occupied you will have 90 days to address the violations and then you can schedule them to come out, re-inspect to provide you with the CO.