It just does not make sense based on my knowledge of the program as you do not have to have 25% equity in an FHA loan to obtain a second one

It is usually over priced and you will be dealing with someone whose business is selling using seller financing, some use tricks to basically cheat folks while some are straight arrows, but I suggest you make your own deal, not follow someone's program as programs are designed for the sellers.Look for an elderly landlord who is still leasing and see if you can talk them into selling close to the rental amount.

Just make sure you understand it.The PHAs are always looking for landlords, so don't be shy about going in and asking for an appointment to go over what would be involved.Now that I know more about the program, as a voucher-holder, I think the bad rep of voucher holders is usually the landlord's fault for not screening them well.  

Gives the other inspectors and the program a bad name but technically he is correct in what ever he finds.There is paper work involved and inspections and from when the 'packet' is submitted it can take 2+ months to go through the process until the applicant actually moves in.

Bishop has rental property for this program (and before you toss such descriptive terms around you might consider some of the investors who post here have experience with this program as well as being individually diverse both racially and in their own sexual orientation).Gail

While your particular PHA is, I agree, a pretty sorry one, the program as a whole isn't at all in a place of doom and gloom in most places. 

I would look for good reasons-Loss of job-Health issues-Child medical bills-2-3 years since ch 7 or 13 bankruptcy Discharge, not filedAttitude-wants to be rehabilitated with credit, will enter into savings program and credit repair program,A high earner with no debt has a great chance to get a new loan in 3 to 5 years

Even so, I desire to come off the assistance program as soon as possible.

Going to start with that and then make it a larger program as the months progress. 

I've considered joining that program as well.