Then, of course you don't have to wait to get on an agent's schedule to see the property (still just need listing agent's approval of the time slot).I think it's a good idea, in addition to the above, because it keeps you in the RE business.  

I also had more than one occasion where a nefarious person new of a closing and new when our title co. recorded  ( they get time slots) and ran in an hour before and recorded a Trust Deed. so when I got my title policy I was in 2nd instead of first.. one call to Title and they had to make it right and then sue this person and or file a criminal complaint. 

There was a mailbox slot at their offices to put in a check.  

But I'd also add that you can benefit more from a MF if you pick the right location than an SF--more chips on the slot if you will--and the paydown starts to get significant, too. 

If I was going to fix this plan within the bounds of the existing walls, I would do this:1) move the kitchen to where the front bedroom is.2) Cut the back wing of the house into 3 bedrooms and 2 bathrooms and slot a stacker washer/dryer into one of the bathrooms.

I know slot of people think that the requirement is 12 months for FHA loans, but it is not.  

Florida cities take first 4 slots in Mayor's survey.

By doing this, you will open up 1-2 slots available for Fannie Mae purchases going forward.

Can i put "193k or payoff, whichever is lesser" in the purchase price slot because i dont believe him on the payoff amount? 

Thanks for the advice John.The local market rents are pretty strong, there is an Air Force base close by that gives slot of off base renters.It would rent for 1250 to 1300.I have about $10,000 I could use for earnest money, I just hate to use cash if I can do it another way.But I realize you have to spend money sometimes to make it.