Mortgage brokers can be helpful as they work with investment property lenders that have better rates and terms that don't advertise directly to the public. 

I’d love to hear what solutions you use at your scale!

This amount will be a direct cost of refinancing that you'll need to factor into your overall analysis.3.

Any time the tenant causes a problem, they should pay for the solution.

The thing is he wants to sell it directly to me (FSBO) without the use of an agent to save on commissions.

I have seen it happen maybe 5 times over the years and directly involved in 2  .. the one I mentioned that I bought the first after the second was bought and another were I was bidding but got out bid B/C other bidder did not know about the first.In the its a Small World category..

Another option is to do the BRRRR method, buying a distressed property from a wholesaler, direct to owner or even MLS sometimes, fix it up and force appreciation and then refinance all your money out. 

So, these properties are probably as close to "mailbox money" as one could get with direct REI.

The thing is he wants to sell it directly to me (FSBO) without the use of an agent to save on commissions.

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?