In the discussion that ensued he laid out property condition spectrum with three distinct points of reference: Fully Performing; Value Add and Rehibilitation Condition.  

The key distinction is the bank, since it makes it's own guidelines can waiver from those with more autonomy.  

You might consider looking for a 4plex or something, and try and get the largest property you can with a 3%FHA loan since your family would occupy one unit.  

It is the largest real eaten networking group in Souther NJ.

I believe there are several RE types of associations that you can join, with REIA WA and REAPS being the largest.

Report: Short Sales, REO Experience Largest Increase in Three Years

@Jeff S.They are funded by one of the largest hedge funds in the world (Blackstone).

It is a fine distinction, but it depends on the type of closing you have.Final Word of Advice...No matter what, keep in mind that your Broker is the one who has to ultimately keep the lights on.. pay the Errors and Omissions Insurance, the staff, the Internet,  and other things to keep a brokerage open and functional. 

But hard money lenders, particularly those that lend on real property such as real estate, are distinctly different from pay day lenders.

They're a lot more common for larger dealsFun fact: some lenders with nice terms require a distinct LLC be formed for the project