Excluded from these requirements are sales of property with 1-4 dwelling units that has never been inhabited, sales exempt from real estate transfer fee, and sales by certain court-appointed fiduciaries (for example, personal representatives who have never occupied the Property).

Once a bankruptcy is filed, the owner no longer controls what happens to the property until the Trustee, the Court or the specific state exemption statutes decides it is no longer property of the bankruptcy estate.

You Can have more than one FHA loan, and this is one of the exemptions.  

However, generally self-employment also needs to pay FICA tax (15.3%) , but rental income actually is exempt form FICA part.

There are other things you can filter on, like over 55, other exemptions, etc.  

More importantly, you lose your cap gains exemption from it being your primary residence.

(First Floor: 2bd/1bath & Second Floor: 3bd/1bath)Listing Price: $299,900 - very good/competitive priceClosing costs: $7200 Commission as "buyer's agent": $5800Taxes: $4,582 with no exemptions for the moment Repair Cost: $15KRental Income for 3bd/1bath: $1300-1500 (Chicago's rental market is skyrocketing)Insurance: $3000/yrMortgage: $2000 including insurance/taxesThe basement can be finished and the rentable 3bd/1bath could duplex up into the massive unfinished attic.

As far as taxes, verify your homestead exemption, that may change after you leave the house and rent it out.

Under the federal securities laws, a company or private fund may not offer or sell securities unless the transaction has been registered with the SEC or an exemption from registration is available.

There's one small caveat/ exemption but most of the time they have to have an active RE license.