Hi Quinton,This may or may not be applicable to you, but if by "unemployed" you mean "on temporary disability, but my job is waiting for me when I get better, and we have an estimated return to work date," than this would be a scenario where ADA trumps ATR and you can still get a traditional mortgage.Fannie guideline on long-term/permanent disability, on social security disability, and on what may be applicable to you: "temporary leave income," which includes short term medical disabilities.For that last one:Just like women/men on maternity/paternity/pregnant leave, a gap between temporarily reduced income due to medical condition, and your normal income, can be made up for using asset depletion.

I'm definitely not in "mentor" status or anywhere near it, but I plan to be one at some point in my life so I can help others.  

After getting bids you may find that you can only afford to use sweat equity and this can be a burden on your social and family life.Good luck!!

The home is currently in a pre-foreclosure status.

@Athena Lei - I may not be "pro" status on this board, but can say that I do inform my property manager in advance that I want to be kept in the loop as to who the "top contenders" are before a selection is made. 

When deserving folks let me know they will be late due to not being able to work temporarily I give them a social services list.  

Obviously, you can't discriminate against protected classes, but how would a tenant claim that you denied them based on, say, familial status rather than the fact that you just didn't like them, or they seemed messy, or whatever?

However if this happens will I lose my status as a first time home buyer and lose any incentives that I would get when purchasing my first investment property? 

Marg is on Social Security and is living with care.Kat pays Marg in Cash, in order not to jepordize the elderly womans (Marg's) SS.The FHA will not accept this, as they want to see proof of rent paid, but the sellers do not want the rent coming in as it could jeopardize their mothers (M) SocialS.The elderly woman owns the house outright and is quite flexible when it comes to payments and allowing my friend to possibly stay another 6 months in order to satisfy the FHA, but is at that point where she would like to get her estate in order for her will and would not be able to carry financing for a long period.

I have owned this property for about 3 weeks now, and it will not let me change the status from "for sale" to "for rent" because I am not the listing agent.