Ironically it's normally the individuals who go to the greatest lengths believing they are protecting themselves who are the most reckless in the way in which they operate their real estate.

I like how even though you rent to the working class individual and they aren't $100K+ homes.  

However, it’s important to understand the loan’s key requirements:Owner-Occupancy: The borrower must live in one of the units as their primary residence for at least 12 months.Single Borrower: FHA loans are issued to individuals, not partnerships or entities, which means the loan would need to be in your name alone.Given your scenario, only you can qualify for the 203(k) loan since your partner does not intend to occupy the property.2.

First, is poor management.

This doesn't mean you cant reject an applicant for other reasons you typically would such as income, poor credit, or criminal background. 

., contracts, blueprints, reports, scanned records, etc.) while managing access permissions for teams and individuals.2.

Its my understanding that the individuals are responsible for all the legalities, contracts ect to make it safe not to get ripped off. 

I wouldn't have to wait longer to prove my income on something that price.However, I'm wondering if it's a good investment or, like someone told me, "if house prices are that low, you'll likely be in a poor area and not have great tenants."

I think this will work because this 16 unit will function more like 40 units with 40 individual renters.

Is this because you had a PM with insurance for this kind of thing or was this a clause in your individual building insurance policy?