You basically had to re-finance to conventional loan if you're looking to use the property solely for rental income.However, it seems like what I read elsewhere may not be true after all, which is definitely a good news. 

I would really recommend reading some Mr Money Mustache, Early Retirement Extreme.http://www.mrmoneymustache.com/2012/04/18/news-fla...

This news story highlights many of these projects.

Be careful what areas you buy in, if the hedge funds are there buying, or the area is in the news as the "new investment hot spot" you're probably too late and the prices are going up and up.

Just put a new tenant into condo in Newport News, Virginia on the 1st but was contacted today by another tenant still looking for a 3/2 in Denbigh area.

The good news for you is that you reside in an area where people can and will pay a premium for high level design and construction.

Read the news and keep an eye on prices in an area you want to invest.

Looking for some tips and or reviews Regarding our first deal in Newport News Virginia.  

It gave you properties that were going into foreclosure before they hit the legal news.  

Can't say I think this will end well.http://www.businesswire.com/news/home/201608160051...I am not affiliated with Realty Mogul and this is not a reccomendation to buy or sell securities in any way.