I want to utilize either a 2nd home type product or investment property product.

We use a product called Vital Oxide in our flips to neutralize odor and disinfect.

You may want to opt for a different loan product other than FHA. 

I am open to other lenders and products, But currently seeking funds of $467kOne of my goals in Real Estate is to acquire and manage homes in my hometown.

@Gino BarbaroWe are buying smaller BTR product direct from builder at completion - typically projects with 10 to 20 duplexes per property.

On the flip side, having more choice in location with an existing product could be advantageous to both his personal life and the earnings potential; add in the second unit having the potential of being a STR/MTR and location becomes even more important.The contract/permit side CAN be challenging location by location; assuming he's working with someone who knows what they're doing, Raleigh makes it easier to get permits for these larger "small scale" projects than Durham.

. - sophisticated value adds: development, TIC/coop, take advantage of localized regulations (2 off the top of my head: San Jose lot split for ADUs, San Diego city unlimited ADU count in existing conforming building), etc.  

Without knowing how much of the renovations you were planning on doing yourself over time versus how much you were wanting/needing to finance up front, you would also want to talk with potential lenders about what loan products they have which could incorporate both the purchase price as well as the reno costs into the loan package.Hope this info helps get you pointed in the right direction - definitely keep us updated as you move forward with this project though!

Also you will likely have way more options on lenders and loan products.#2.

You should look into DSCR Loans - many investors like yourself typically move to this loan product once they max out with DTI/qualifying conventionally - a bit higher in rate than conventional mortgages - but no DTI ratio or tax returns/income verification makes a much easier qualification process and LLCs are 100% ok (even as sole owner) and actually often preferred.PS - published a 10-part article series here on BP last year on everything you'd want to know on these loan types - sharing links below, hope it can help!