All this fancy mumbo fha guideline gumbo means is that your projected market rents assuming all units, if it were rented Times 75% need to be greater than what your monthly payment is  (PITIA = principal/interest/taxes/insurance/assessments monthly), other wise FHA will not lend at that loan amount so common solutions to this when rents are too low in your local market are to put more money down payment which defeats the whole purpose of low 3.5% down FHA doesnt it?

They then use their new knowledge and skills to take on bigger projects which they then BRRRR to scale more aggressively.I don't know a lot about North Carolina but I know there's investors there seeing great success. 

And then of course you have the 27 Boise Cascade projects that were built in CA  with thousands of lots in each one..

What's not going to happen is your going to get good long term pm done for you in rough areas with no other incentives like they are making money more on project management of the renovations. 

How are the performances different than your projections at purchase?

Seems like a great way for rehaber to make the financials look any way they want.I can think of a few technologies that might help track income and expenses across projects that don't involve saving pieces of paper / invoices / pdfs :)  

Hey everyone,I’m currently in the process of creating a pitch deck for a new project and could really use some inspiration.

So on those projects I had to take them over and I think at best we got principal back and on one or two might have lost a few grand..

It IS having a massive credit limit/card...Just my two cents. 

You might look into some of the real estate crowdfunding sites that allow you to invest only a few hundred dollars into whatever project you like and build up savings in the meantime so that you can take down one of these deals in the future.