Many don't qualify for low down payment/FHA for a variety of reasons, especially the ones sub 200K. 

As a fellow real estate investor (with my wife on board too), I’m pumped to see you and your wife diving into the Detroit market—heard there’s a lot of opportunity there for rentals!

Document the time you spent on the property compared to others, especially if you’re trying to qualify under the “100 hours and more than anyone else” test.

So if you do a cost seg once completed on that business portion- it may not qualify for bonus. 

Since I don't have a W2 anymore, I can't qualify for any sort of equity loan on my current home so I don't see my home's equity as a means to do anything unless I sell.  

This is something a qualified contractor can easily resolve.

Feel free to contact me via PM and I can provide you more info if you have further interest, as these discussion boards are not for selling!

Your property listing can also be a great way to lay out qualifying criteria (i.e credit score minimum, and require a co-signer if lower).After conducting due diligence into a particular tenants situation, and you decided to proceed with an application approval, you could require a higher security deposit. 

Unless someone specifically wants to work with us, they have a tough scenario in terms of qualifying, extenuating circumstances... so on and so forth.... 

Convert the Property to a Primary Residence: If you live in the property for at least two of the five years before selling, you may qualify for the primary residence exclusion, which allows you to exclude up to $250,000 of capital gains ($500,000 for married couples) from taxation.4.