@Hanzel Ana Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Can the reported income to the IRS be leveraged to benefit the investor when applying for a loan or refinancing?

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

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?

@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.

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

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? 

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. 

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.