I thought FHA was supposed to be for first time home buyers? 

It was supposed to be a quick flip but then the buyer got wind from the neighbors and did an "informal" test which came back hot.

Seemed like a good idea at the time I suppose. 

Or is the property supposed to be fully owned by the seller?

I suppose there "could" be an investigation into the fire damage and any potential insurance claims.  

BP is suppose to be the place for answers but we all ask questions when we don't know on these forums, that's what it's for.

I suppose these should be filed as self employment taxes?

Is that supposed to mean hunt until you get 75% off asking, not very likely that would happen.

I suppose that's true; cant hurt to ask.

I realize it's not how your supposed to do it (idk legality) but has anyone bought a second home to get the 5% down payment instead of the 20% down payment it costs for an investment property?