You have a payment once you borrow against it, but not before. 

•Tax Savings Account: To save for quarterly or yearly tax payments.

I understand the 25k guy .. and the seller carry back folks normally those I see that do that will get the amount they paid for the dirt back in the down payment and the note is pure profit.

Layer on the ability to invest the funds that otherwise would go towards the down payment and transactional costs and you likely come out ahead in such a short term horizon renting.

Have all payments from  the tenants go to your LLC. 

After buying this house, I partnered with others to invest in a duplex in the Wichita area.At the moment, I’m living in Tennessee, and I’m weighing two options: either selling my house and using the proceeds to buy a duplex in Overland Park or Wichita with my partners, or keeping the house for another 3 years, transferring it to our LLC, and renting out the entire property to maximize its rental potential ( $1400-$1600 ) I currently owe $200k on the property with a 6.5% interest rate, and my monthly payment is between ($1,700-$1800).

@Paola AstridIf you’re considering refinancing an FHA loan, it’s a great way to lower monthly payments or gain more flexibility.

I continued paying what I had paid before, with the additional money purely going to principal.The recast to a lower amount was purely to reduce my committed monthly payment to a point that I could get my property to cash flow if I had to move out (job loss, etc).

There has been quite a bit of complaints in the past year of IHA mishandling payments or not paying at all and little to no communication.

This has to cover your debt payments also.3.