- Does every person need to meet the required rent to income ratio, or can one tenant cover for another given that they have sufficient income to do so? 

I don't want to continue with any Section 8 (after I buy this property) but would like to give the tenant sufficient time to find something once the moratorium ends.

Or is a lawyer sufficient?

@Kaylea Bienek google fha self sufficiency test if looking to buy a 2 or 3 unit.

While most will invest in non judicial Versus judicial, you also find judicial notes in greater quantity and typically at a lower price pointIf it’s from a broker the first thing I do is determine the seller as there are a lot of sellers who put out tapes I won’t waste my time with as their price point is extraordinary

More often than not, using neighborhood comps are more than sufficient for finding the ARV.

Many investors do not have sufficient capital to act like the bank and fund the SCBN, so the SCBN would be drafted in the name of the Qualified Intermediary and upon closing of the sale of the relinquished property the Qualified Intermediary would be holding $50,000 in cash and $50,000 in a note. 

The LLC is for my contracting business but I was also considering setting up a separate one for my rentals (especially if business financing is a possibility) or should my liability insurance be sufficient for now?

I’m talking to my lender now and we think that my change in circumstance should be sufficient enough to get me into a property with 5% down!

For more of a SFR 'average' American home (whatever the median for the area is) I would say that an address specific  letter of preapproval (when submitting an offer only) is sufficient.