It discourages new landlords from entering the market and limits the ability of existing landlords to adjust rents to match rising maintenance and operational costs.

In my limited experience, HML may not care too much about your credit but they will care about your, presumed, lack of experience.  

It works anywhere within Seattle city limits. 

I know certain areas where I live are limiting those types of permits, etc.

Using a Self-Directed IRA (SDIRA) allows pre-tax dollars to grow tax-deferred in real estate, but limits flexibility due to IRS rules and potential UBIT on leveraged properties.Investing through a Roth IRA offers tax-free growth and no RMDs, but funding limits and restrictions apply.

Maxmimum loan amounts for FHA are the same across the nation for the most part except for the high cost areas of the west, east coast, or specialty markets like Aspen, CO Los angeles, New York, NY, and others as they have higher limits for 1-4 unit FHA loans.

You really want unbiased investor advice so I would focus more on the responses that are from investors (or anyone) living in one area in their bio, but telling you about another area that the invest in where they have no vested interest.It's not to say that all agents are spamming, most is pretty reliable advice on their area, but it's still to be considered with a grain of salt.You are giving everyone too wide a scope to help you - anywhere in the US, and then limited to the Midwest (huge), and others.

How do I find good LPs for my deals?

It’s crucial to stay disciplined here, as overspending on land can limit the funds available for construction and other expenses.Development Scale: I’d recommend avoiding developments in the range of 4-50 units unless you have a very specific reason.

Also, consider the potential for appreciation and rental restrictions, as some HOAs have rules that might limit leasing later on.Given your $20k starting point, a condo could work well as your first step into real estate, especially if you focus on one with a manageable HOA fee and potential for appreciation.