The real life experience is the best option for learning and gaining the knowledge you need. 

Freddie has similar intricacies, but also does not require a two year history of receipt; https://guide.freddiemac.com/app/guide/section/5306.4If you can use the rental income to drive the DTI down so that you can reduce the down payment similar to that of the FHA product, the benefits of the conventional option will outweigh the FHA option, as I'm assuming you have a strong FICO based on rate quoted with no points.  

Another benefit: three friends renting together typically need their own policies.

But I also love the idea of investing in real-estate and utilizing its tax benefits I have read around 10 ish books or so and the one I am reading right now recommended this site I am looking for some advice of things I can do to either prep for an investment into real estate and or do right now.

The benefit of paying the following year is the interest income accrued.

Remember, thinking long-term and taking imperfect action is key to building wealth and gaining experience.Good luck!

So, while imperfect they overall benefit you. 2.

If you own a business even if it's a pass through LLC for your real estate you have to file a BOI Report by the end of this year.BOI stands for Benefit ownership information. 

Are you trying to hand your “friend” a 50% taxable gain that you’re going to keep?

What are the potential pitfalls and benefits of each approach?