Fannie/Freddie (Conventional) loans aren't just about rate and transfer taxes. 

This means that if the bank forecloses, and you can’t pay it off, you will lose all of your money with no recourse to anyone.One option to secure your loan is if one of the partners has a free and clear property worth significantly more than your loan.

Their taxes and insurance may have doubled and they can't afford the house any more.I think geographic is tough because there just isn't typically the turnover any more in most areas. 

Best to check and see first.Most DSCR loans go off of the middle score so it'd be good to get a soft pull as I've seen scores come in way off from those apps sometimes.

As you can tell we worked our tails off. 

You'll want to source these deals off market from brokers and wholesalers.I have no links with wholesalers or any brokers in off market world.

I’ve recently paid off some debt and am earning a decent income, but my savings are still modest and not yet substantial.My plan is to use an FHA loan to acquire a decent property, claim it as my primary residence for a year, and then either sell it for a profit or potentially rent it out.

Every little thing in the project should be in writing, even down to the door stops :-) See my tile spec sheet below ...Two problems with your post though - 1) In my experience, most problems come from the customer changing their minds constantly.

Quote from @Mark Jaskowski: Hello BiggerPockets, I recently got the opportunity to purchase an off market property in Las Vegas about 15 minutes west of the strip.

If you can’t do a 1031 to a non-income tax state, figure out a year when you will have lower income and tax rates ar as low as possible.