I would highly recommend that you speak with an attorney that does this on a regular basis to ensure you are protected and to ensure the loan docs are legally binding - the loan docs are of course key to ensure that you have documents you can execute on in the event of a default (mortgage, note, assignment of rents, personal guarantee, etc.). 

Through regular search engine searches and tenancy networks.

One advantage you'll have over people doing a regular FHA purchase loan (non 203k FHA rehab loan) is that when you go towards purchasing a 3-4 unit property and have to deal with " FHA Self Sufficiency," Rule you'll be able to use future market rents that are appraised on with after repair rents (way higher than your acquisition rents probably).This makes it easier to make your FHA loan qualify especially if you buy a good deal that has big rental income upside (your proforma future rents are way higher than your acquisition entry rents).FHA SS rule is required to qualify a FHA loan when its a 3-4 unit property, this doesnt apply to 1-2 unit FHA loans.Even on 203k FHA loans you'll need to meet FHA SS rules (3-4 unit applies to).

The steps are illustrated below.By utilizing this method, if something does not pan out with one or more of the replacement properties, we still have ample time to locate, put under contract, and validate (due diligence) another property within the 45-day identification period.Movement of FundsA regular question I receive is if a 1031 exchange agent is required.

BUT, if the property is listed FSBO, it's a regular ol' average joe trying to do the work of an agent to save a buck.. and doing it badly apparently. it's not unusual to say 'we don't want to disturb every tenant without a signed offer,' but they should have interior photos of at least most of the units.

@Joel Ortiz  You might have regularly achieved those roi’s a few years ago.  

Luckily, I found out I have until 3/30 to find coverage (I wondered why my regular insurance agent wasn't rushing to get me new quotes).

So, the properties will continue to appreciate.I don't know that market, so not sure on your question between a townhouse or a regular single family.I hope this helps. 

It isn’t a regular reit and requires a qualified handler. 

We just found it with our regular realtor.