Also, I have read where rehabbers submit bids in writing to the listing agent before eligibility on a proprerty, just so the bid is already there when the house becomes eligible.

Per their guidelines: "Eligible borrowers include individual home buyers, investors, nonprofit organizations, or local government agencies."

It is always good to go to the USDA eligibility website to see if your property is eligible!

I hope to be retired from my real estate empire 15 years before I am eligible for one of those communities!

My concern is with FHA eligibility with having the partial claim filed.  

All we can do as investors is keep an eye on the underlying fundamentals of the particular city we are looking to invest in.

The eligibility matrix shows a distinction between 1, 2 and 3-4 units right?  

Also, for anyone considering the same, the Fannie and Freddie LTV limits for cash-out refinancing are 70% for multi-units (2-4) and 75% for SFRs. http://www.freddiemac.com/singlefamily/factsheets/sell/ltv_tltv.htmhttps://www.fanniemae.com/content/eligibility_information/eligibility-matrix.pdf

I checked the link and i wont be eligible for that program.I do check homepath as well, and look for properties that are not first look or are out of that time period.Since my initial post, i did get a chance to see a few houses..

It shows people you are serious about the investing, that you have a basic understanding of RE and some fundamentals that go along with it, and that you are legally able to be paid for your services.