FHA 3.5%.You should talk with a lender like @Jose Valdovinos! 

With strong rental demand, affordability, and plenty of value-add opportunities, Birmingham is looking like a solid market for investors.

This one is a big improvement because we'll gain a lot of space, a more "house-like" layout, and a garage, and a third bedroom!

Your financial background is a huge asset, and it’s great that you’re starting locally in Milwaukee while keeping an eye on future expansion.If you’re looking to connect with like-minded investors, the Rental Property Association of Wisconsin is a fantastic resource for networking with rental portfolio owners, accessing legal resources, and finding contractors. https://www.aasew.org/For mentors, funding sources, and flippers, the Milwaukee REIA is another great group to explore. https://www.milwaukeereia.com/I’m a member of both and find unique value in each—maybe we’ll cross paths at a future meeting!

Looks like you guys have a lot of port silt loam, which is NOT a very expansive soil.

The latter might not let you do anything and is more likely if they don't like your tenants.I see 3 scenarios:The fence is on your property.

It sounds like you are overly confident in your Excel spreadsheets..... 

Likely will reduce to whatever market rent is on 1007 report, if the Section 8 income is higher than market.

Loan seasoning requirements are usually based on the note date and the loan purpose, like cashout refi. 

If it is a contractor that is more organized they will likely do this already, if they are shooting from the hip "based on experience" they will likely just give you a total $ value.