Temperature control:  It's always naturally cooler downstairs, and in the heights of summer and winter, I just cannot get the temperature regulated for both me and my tenant to where we're both comfortable. 

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At least with FHA the appraiser has a little control over the house. 

The closing team led by Taylor were fantastic and I see the first months rent in my account.

When you refinance a property as an owner occupied property, you are signing a new 12 month occupancy clause which means you need to live in the home as your primary residence for 12 months after you do the refi.Rates are on a downward trend and likely will continue to do so for the next 12 months so you may have time to refinance your loan in the next year or two into a fixed rate while you are still living in the property so if you planned on living in the home for 3 years, you could wait 2 years for rates to drop and then refi as owner occupied into a new 30 year fixed rate.Alternatively, you could get into a fixed rate now at at 5.875% on a 30 year fixed rate if you qualify for the "HomeReady" program (HomeReady is an income limited program that gives buyers a fantastic rate).

It seems as if  you never had control of the system, and there were no clear set of expectations.

There is a lot of 2 and 4 unit inventory in KC and I think a fourplex is a fantastic first investment property! 

This includes getting comps or an appraisal to verify value, lenders title insurance,  a proper note and mortgage,  and you must be listed as a mortgagee on the borrowers property insurance policy.Our lending criteria in our lending business caps our loans at 65% of the after repair value and we control all rehab funds as we hold them in escrow. 

When investing in New Construction, you are controlling the property for the first, BEST years of a buildings life.  

.- Learning Opportunity: Having your friend as a general contractor at a discounted rate is a fantastic opportunity.