Thanks for any help’ Yes we're licensed there and FHA guides in one state apply to all states unless a state has a specific law that supercedes the FHA lending guideline.FHA is always 3.5% down minimum (in some cases less because you're using a DPA or down payment assistance program or 2nd lender to put down over all a lower down payment than 3.5%, Aka for instance 3.5% DPA + 96.5% FHA = 100% financing but just dont kid yourself this is fully 100% leverage and to be used with caution and carefully).In the case of 2-4 unit FHA is still 3.5% down payment @Matthew Kwan @Carlos ValenciaThere are rules regarding FHA such as:- primary residence - you must occupy one of the 2-4 unit property as your primary over 50% of the year and the underwriter needs to believe you will remain and have the ability to live in there, any deviation from this and you'll get a whole laundry list of conditions asking you to prove why you should be believed to be living or will live there (if this arises dont be surprised, it just means the UW doesnt believe you).- SS rule - self sufficiency rule - gross rents of all potential units 2-4  X gross rents at 75% needs to meet 1:1 or 100% of the monthly PITIA payment or greater.

It’s one of the lower priced options and as such does not have an app.

That said, you should adapt your strategy based on the market conditions.In lower-cost markets or areas with less competition, you might still be able to hit 1%.

The only way you can break that log jam right now is severely lowered fed rates, but the level of federal debt is such that they're in a no-win situation because there's going to be little appetite these days for buying 1% fed notes from overseas.The fed rates were kept too low for too long.

A lot can happen in 12-years and we are currently in an inflationary environment where the rates don't seem to be going down with the Fed lowering short term interest rates.  

I have a priority credit line on my brokerage account that is now > 1% lower interest rate than my mortgage.

For new build to rent properties, expenses are generally lower than for older homes, but it's best to remain cautious.

The prices they have are towards the lower end and in PM you tend to get what you pay for.

To protect the floor or more importantly the lower level ceiling in the case of a leak/overflow form the washer. 99% of them never do anything their entire life. i would have balked at a $500 estimate for that job.Ps.

However, if you can STR the home at a higher profit, or LTR it at a lower profit then you've got the makings of flexibility :)