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?

So the probability of someone replacing their W2 income is extremely low.  

I'm sure others will have a different opinion, but I believe your OpExp margin of 66% is WAY too high 4% vacancy is too low.

Hey Roy - Typically, previous experience is weighted heavily with hard money lenders, so they might offer better terms to flippers with a track record.

Separate checking accounts not required, but you need to maintain separate books and records.The TREC requirement is correct, but odds of enforcement seem low.

And it needs 40k in work and the ARV is 55k.Project cost = 50k - 60kARV = 55kThere's no profit margin for a lender to feel comfortable even thinking about a loan.The problem with these micro price points is that almost no lender wants to even be bothered with them.I always tell people if you have 30k, then you can do a low price point deal in a market from Pittsburgh to Indy. 

I bought this residence with my VA loan but realized I should have used either conventional or FHA due to the low cost of the home.

We aren't zoned for a campground or RV park nor do we want to pursue changing the zoning to that, but keeping it low-key and low-density it doesn't attract attention, nor are we putting massive cap ex into it.

These cost about $70 at Depot or Lowes. 

I wanted to get started in investing in multifamily real estate in 2022 to take advantage of low interest rates and rising rents.