Some good into for you to have (and your seller) and steps forward:First: As you have learned, you cannot have two FHA loans unless you qualify for a couple of different exceptions.

Not a ton of young professionals except in government roles (Carson City's largest employment option), or if they want a slower pace but are still willing to commute to Reno. 

These types of properties can still appreciate an exceptional amount if you pick the right area.

Hello,My wife and I recently found a property that fits all of the things we are looking for, perfect location, price, rooms, etc. except for one problem: The previous owner was a smoker :( Does anyone have experience buying/renting out/living in a home previously owned by smokers?

Real estate investment is always a matter of perspective and strategy, and the current market environment is no exception.

So I just joined Buildium, spent hours setting everything up, it seems mostly pretty great, except one HUUUUGE issue that is making my head explode...they don't support credit card tracking?!?!?  

Think of it like a stock investing club that meets monthly to discuss, vet, and invest in stocks, except it's passive real estate investments.  

The borrower will need to be exceptionally qualified and have significant reserves (particularly for a jumbo or super jumbo loans of $1-2-5M++) Historically borrowers could qualify with 10-20% reserves of the amount financed, that could jump to 100%+ without significant state and federal intervention.

When we built up the triplex, we set it up so that each of the 11 rooms can be rented out individually (all BR, except 2, have their own bathroom behind an electronically locked door).

Yes, you can use part of your Traditional IRA funds for a down payment on a home through the First-Time Homebuyer Exception, which allows you to withdraw up to $10,000 without incurring the 10% early withdrawal penalty.