Any tips on things beyond furniture to maximize the likelihood of good ratings?

Meaning you can maximize your one time chance of buying a property with 96.5% leverage via a government subsidized loan - Considering the two above over the long term if you buy a multifamily you will have: 1) Created more equity via loan paydown and appreciation2) More cash flow and stabilityIn my opinion you want to go as big as possible when doing FHA.

Another thing that helps maximize the strategy is the amount of cash inflows a person has each month or the amount of inflows because on a revolving line the interest is calculated daily or on an average daily balance like what  depending on the LOC (line of credit).on the All in One or AIO loan from CMG the interest is calculated daily and swept or added to your balance at 12AM each day so all your paychecks, rental checks from rentals, or stock dividends, distributions from your business, or etc can be used to lower your balance by 12AM each day and lower your total interest costs.Most HELOC's or lines of credit calculate interest on the average daily balance which is like all balances within the last 30 days divided by 30 which is not as efficient as the AIO's daily sweep but close.The third method of interest calculation is the 30 year fixed which amortizes or calc's interest every 30 days or month so extra principal paid into this loan after the 1st of the month doesnt lower the incremental interest on the reduced balance till next month.

the other thing if its  a owner occ type loan there could be mortgage insurance.. and most banks sell their owner occ loans anyway.. now if your doing what @Levi T. talked about and going after commercial assets.. this was possible years back.my personal banker was in charge of their OREO and I got the list every week.. and bought a few subdivisioins from them they took back .. but this is small commercial bank where I knew the owners of the bank personally IE president and head credit officer.. and my banker is in charge of all the loan officers... and has banked me 24 years.. so yes its who you know.bigger multi billion dollar banks doing owner occ you can pretty much foregeta bout buying those in todays market.they want as stated to establish if they get a mortgage insurance claim and or they want to maximize profits.. there is simply not as much hangover inventory.. and or they will then sell off notes.. 

Well, let me see if I follow here, and I have some questions.Your goal is to maximize cash flowYou have the OC condo that you have about $350k equity inAm I right that the condo is not the home you've had since the 70s that you are emotionally attached to?

Those that rank the highest in maximizing tax benefits are: Golf courses (that's right!)

Something in the 150 range with 50 in rehab with an AR of 230 plus would be a better way to maximize that much cash. 

How are/should the financing be tailored to allow for use of less cash to maximize the acquisition? 

How are/should the financing be tailored to allow for use of less cash to maximize the acquisition?

You raise some interesting points about the Bay Area market, but  the age old maxim that the three most important things in RE are location, location, location Extrapolating what you've seen to the "US Real Estate Market" is pointless.