Once you have an FHA loan you are not allowed to have another FHA loan unless relocating a great distance for work.Now that you have exhausted your Low Down Payment Options (Portfolio Conventional and FHA Conventional and FHA) you will need to use a Standard Conventional Loan and put 20% down to get your 3rd Duplex.The sky is the limit...you could continue to buy properties and build an empire or just stop there and enjoy more free time...I have friend who quit his job and just manages his properties now.Keep in mind that this 4 step process I outlined takes time (anywhere from 1 to 10yrs depending on the person) so keep the big picture in mind but don't let it stress you out too much.

Once you have an FHA loan you are not allowed to have another FHA loan unless relocating a great distance for work.Now that you have exhausted your Low Down Payment Options (Portfolio Conventional and FHA Conventional and FHA) you will need to use a Standard Conventional Loan and put 20% down to get your 3rd Duplex.The sky is the limit...you could continue to buy properties and build an empire or just stop there and enjoy more free time...I have friend who quit his job and just manages his properties now.Keep in mind that this 4 step process I outlined takes time (anywhere from 1 to 10yrs depending on the person) so keep the big picture in mind but don't let it stress you out too much.

.* Minimum equity requirements are outlined in the Product Highlights section.You can find the brochure here.Now, in reality mortgage brokers/agents will put though insured mortgages (using CMHC or private insurers Genworth or Canada First) w/o checking to see if you already hold one and many (maybe even most) times the underwriter also misses it and the person ends-up with two insured, high-ratio, mortgages.  

If you do a search on here, there are dozens if not hundreds of posts outlining people's experiences purchasing through Auction.com.  

@Shawn HydeYour general outline of the setup process is correct.

What she needs to do is send a registered letter to her landlord outlining the necessary issues , hopefully they are serious issues not just cosmetic items, and indicate to him that if she does not get a response with a reasonable amount of time she will be asking to terminate her lease.

Here's what I have for a basic outline,  any input and additional questions are greatly appreciated .

The methods Brandon outlines do work though you may have to force yourself to think creatively.  

I'll probably be looking at alot of houses before I find one that meets my criteria as outlined here.  

Your money is made at the time of purchase and based on the scope of work as outlined in your post, at a $80,000 purchase price you won't have a good enough flip margin with a contingency budget for those unexpected "profit killers".