You should contact a few lenders who will ask you to apply.

@David CianciI do not know the details of your business, so it's only a generic answer that may or may not apply.

@Matthew Mclean May not apply to your loan but for others that read this they may need to make sure there is no pre-payment penalty.

You then can apply for financing after you close in cash - so you have to be liquid. 

Does the 5% down applies on buildings with more than 4 units as well? 

You need to determine whether these holes can be patched with spackle or if you need a drywall professionall to retexture the entire room (it might be easier to just do this and get it right the first time).A lot of drywall companies work with painters or may even have a paint guy on their staff.

And then can I buy right back into FHA after 1st duplex loan is transferred.Also what is needed for him to transfer his primary to a rental so he can also apply for FHA?

if after 48 hours of “bank hold” or NSF on end of tenant, and timeframe is already beyond grace period, late fee or returned chk fee gets applied.

This article includes Prospect Mortgage getting whacked with a $3.5M fine for paying referral fees: https://www.housingwire.com/ar...https://www.thebalancesmb.com/... is a good article to brush up on.RESPA doesn't apply on commercial or hard money loans. 

I'm not sure if that applies to NJ.