In the meantime, focus on building your credit, saving for a down payment, and soaking up as much knowledge as you can.

For me, I am a little hesitant because I would be in a situation where I would be trying to secure traditional lending (which should be very feasible given credit scores & what $$ amount I am pre-approved up to from my banks), meaning that I assume I would be forced into using my first-time homebuyer loan incentives.

Then they didn't pay them and the  bad credit goes to someone else! 

Since they're low income/tax credit, they just don't make the kind of money needed to pay those huge premiums.

You do need to have steady employment, decent credit, and not be drowning in debt.

Interesting approach, how would multiple refi affect my credit score?

Use services that can validate the authenticity of documents and employment history.Require Detailed Applications: Ensure that the rental application captures comprehensive information, making it harder for fraudulent applicants to provide fake details.Conduct In-Person Interviews: Meeting applicants in person can provide additional insights into the authenticity of their application and allows you to ask follow-up questions based on the details they've provided.Utilize Professional Screening Services: Professional tenant screening services are invaluable for conducting background checks, credit checks, and criminal history checks.

You can do a duplex though, which might not be a bad idea.With your credit score, conventional might be a good choice, you only need 5% down for 2-4 units if you live in one. 

And even tougher to get it financed.. from what I can see the only folks that build new are subsidized housing in some manner or  big tax credit plays something other than normal economics.

How is DealCheck different from and an improvement over BP Pro?