If you had good credit (670-730 range), you have 20% to make a down payment, and sufficient income to qualify for the home you want to purchase - Would you choose the FIRST-TIME HOME BUYER or CONVENTIONAL purchase option...which would you pick and WHY?

FHA now allows us to count rental income from an ADU (additional dwelling unit) to help borrowers qualify.

I've had qualified renters move into a rental, add their bum friends or family members, and then disappear, leaving me with bad renters who weren't approved and aren't on the lease.The best practice is to screen every adult, approve them, and add them to the lease. 

Most of these course instructors aren't qualified to teach anything but the most elementary real estate concepts and try to make their courses more marketable by teaching concepts they have no business teaching. 

Also, I am guessing that due to the state of the house, it would not qualify for a conventional loan?

.🔹 Property Tax Relief – If your property is severely damaged, you may qualify for reassessment and potential tax refunds.

Look into the InvestHer platform with Liz Faircloth and Andresa, and WIIRE (Women Invest in Real Estate) with Grace Gudenkauf and Amelia McGee.

.🎯 Your 6-Month Timeline:Month 1: Foundation (5-7 hours/week)Morning routine: 1 hour daily market researchEvening routine: Deal analysis practiceWeekend: BP forums & networkingKey Goal: Analyze 10 deals on paperMonth 2: Education (8-10 hours/week)Complete 1 RE courseJoin 2 local REI groupsSchedule lunch breaks with agentsKey Goal: Build your initial power team listMonth 3: Systems (10-12 hours/week)Set up deal tracking systemCreate document templatesEstablish banking relationshipsKey Goal: Ready to make offersMonth 4: Lead Generation (12-15 hours/week)Drive neighborhoods after workWeekend open housesSetup automated MLS alertsKey Goal: Generate first 5 qualified leadsNow, the Owners and Brokers you deal with may not enjoy this, but you can certainly "practice" making offers.  

At the price point you qualify for, I'd be looking at a more landlord friendly state with more approachable price points.

I believe you have 12 months after the declaration to qualify.