Otherwise you take your chances with nothing.

And you can do it with little cash, 5% down conventional is better than 3.5% FHA.House hacking also gives you a chance to cut your teeth in all major skills: analyzing deals, buying process, financing, working with contractors, advertising for rent, background checks, property management.

My experience is though, that any fed backed loan, automatically is offered a chance to do a loan mod. 

Quote from @Robert Gunn: I would also be very interested in hearing student or JV experiences with Pete and his program.I stumbled upon him by chance and for fun (I've been investing in land for years) signed up for his "free" course, which he promises after he pitches his $499/mo software system (which is basically an overpriced CRM) and then after the first "Level" in the course, you are directed to a pay page to access the rest of the "free" course.  

And , since I had been working in an industry I really wasn’t passionate about, this was my chance to try an industry that I have had a passion for for the last 12 years or so.

Based on his last post, @Samuel Kim now seems to think it’s pointless for him and his wife to explore this topic over posts made by professionals who barely know anything about his situation. 

I'm in a team who does these deals and we have a team of "door knockers" who go back weekly till the auction, they file bankruptcy which only delays 3+/- months 100% chance that the lender will as that their mortgage is removed from the bankruptcy they file NOD yet again.   

Generic, state specific leases are just that, generic and simply covering the bare minimum (if that).

If the use of the funds are for business purposes, like investing in real-estate, you will have an easier chance of qualifying for a loan documentation and income wise.

On a scale of 1-10 this tenant problem is barely a 6.