Your specialities are great for this community of investors!

Let's reinvigorate this thread.

Thank you for expanding on this.  

This all is dependent upon you getting the carpet from HD of course.

Looking forward to networking and learning from this community.

This is what I found on google?

Would ownership by a SC entity resolve this issue?

You also need the operating cash to do rehab.I say this because you mention FHA and low money.

I understand this may have an affect on the appraisal.

You can do less than 20% down (as low as 3.5-5%) if you intend to occupy the home for at least a year.2) There will be an HOA (homeowners association) which restricts rentals, so be sure to read the CC&Rs (governing documents) to ensure that your rental strategy is allowed, even if you intend to live there at first, eventually you'll be transitioning it to an investment property, so this will be important.