If you're not in financial position to live these rules, that's ok, it is important to start thinking these rules, living them in thought.

Quote from @Chris Seveney: Quote from @Jay Hinrichs: few things if these are sold to homeowners were the dodd frank rules rigidly followed when you did these.if they are sold to investors then DF doe not come into play.while credit and such matters keep in mind note buyers will want a 12 to 20% or more annual return..

Asking in the correct forum will get a better response.Read the RULES!

HI Jewell,If you were to use FHA again, this could trigger the FHA 100 mile rule + 1.75% upfront fee, however with a few exemptions Indeed FHA allows you to put 3.5% down payment to invest in 1-4 units.

The latest ordinance I find still states rent control only applies to 4 units and above. 

I highlighted two common exceptions in my earlier post, but doesn't sound like either scenario applies to your case. 

I generally rule out most single family homes as viable rentals, as prices are pretty high relative to rents, so aside from some downtown neighborhoods, typically you do not find large areas of single family rental neighborhoods (a median sale price on a 3 bed, 2 bath home so far this year in Dane County on MLS sales data is at $430k). 

It still is very possible to find properties that meet the 1% rule without much difficulty; but it’s also tougher now to find a mortgage for anything valued under $100k – regardless of condition or P&L.To me, the shenanigans Code Enforcement continues to play on a new owner after a sale plus the recent increase on the annual rental registration fee really discourages buying more in the City.

Start by researching areas that fit your goals, understanding financing options like FHA loans, and using the 1% Rule to evaluate deals.

Don't know if any of those apply to you or not, but good to check with your lender today and get them to run your credit so you know what your targets are.