I refinanced it into a  5% 30-year mortgage with a local bank as the seller would only carry the loan for a year.

In The Tampa Bay Area local investor in the items inside the home/business but looking to get with the right people to build a team.

(One virtual and one local).   

I suggest you start out by meeting like minded people and here is a link to a local meetup in the OC: https://www.biggerpockets.com/forums/521/topics/1225233-ocre...Good Investing...

With one BP poster I encouraged him to come out to a local meet up and met him in person and he was able to talk much more experienced investors in our group for further advice.

I found this deal as an off-market property through my local network in the Hamptons.

I'm sure some local banks will do higher especially with a strong relationship but don't think I will fall into that category.

I've spoken to a few local attorneys and they have never heard of that.

That said, I highly recommend speaking with a local professional in the DFW area to get insights tailored to your specific goals.

Avoid PMI and then go to a local credit union and get a heloc after closing to gift the money back.Have this as a tool in your tool belt but pursue use of the 3.5% FHA, knowing that you will be at a competitive disadvantage if you are competing with non FHA buyers, then you can call in the favor from your gift person.Just know that if someone gifts you down payment money, your bank will require them to sign a letter stating that it is in fact a gift that doesn’t need to be paid back.