then you take the state test and the federal test to get your NMLS registration..

The challenge with the FHA guidelines is the self sufficiency test.

You need to always be changing with the market, testing and poking to see what marketing works better and what does not work at all. 

The way to find it starts with testing and challenging yourself and your system.  100% during hot time is one thing.

Quote from @Joseph Bushnell: I'm testing out the idea of building a data center and I was wondering if anybody has heard of owning the building and having a third party operate the data center itself.  

I tend to do a quick dirty look at a building like JW with price per door, but after that sniff test, I quickly like to understand $Cost/SF and $rent/SF.The way I look at a single family, 2-4 units, or a 20 unit is all different, but the end result is still ROI or IRR (over time). 

For example, if the area is rural you might wish to have the house inspected, the well tested, and the septic system inspected by separate services.

and usually take the state test to get the license and skip the federal part of the test ..

Did you only remove the drywall and flooring and not do any testing? 

I generally agree that buying SFH as first investment is an easy way to test the waters; however, if you’re set on REI I suggest buying a duplex or quad.