The home had a conventional offer submitted the day we saw it and my realtor, convinced this was the best home on the market for the purposes of getting the FHA loan approved, proposed a strategy that involved an above-asking offer to ensure we had an accepted offer.

It sounds like your bank was proposing a commercial loan, on which 20-30% down is typical.

You can ask about specific lenders or any proposed terms, fees, etc. 

I know that timing the market is an ineffective strategy, but with all of the political promises to lower housing prices, do you think it may be wise to wait until after those policies are legislated?

Compare this to any city and the Midwest and it becomes even more impressive that Columbus is exploding right now....we're the only city in the Midwest to experience growth during COVID-19...still retain AAA Bond ratings across the board, have a maxed out rainy day fund and a windfall of tax revenue.Columbus is becoming a hotbed of tech startups to include Olive (AI), Cover My Meds, Root insurance, and Path Robotics...Sequoia Capital has entered our city and providing venture capital for the first time in its history.Bottom lineProperties are still very affordable when compared to national pricesRents are starting to keep pace with purchase priceTop 3 landlord friendly state with no legislation on the horizon to change thisExplosive and sustainable job and population growthUnbelievable appreciation...30% year over price appreciation in entire zip codes is commonOh, and we're insulated from natural disasters...plenty of fresh water...and improving infrastructure 

HERE'S MY QUESTION- I don't live in Omaha so would propose to give girlfriend 10% to manage (presume permanently) and half of the net for about  the first five years then all to me. 

Consistent with Section 66013, the connection may be subjectto a connection fee or capacity charge that shall be proportionate to the burden of the proposed accessorydwelling unit, based upon either its size or the number of its plumbing fixtures, upon the water or sewer system.This fee or charge shall not exceed the reasonable cost of providing this service."

You can buy primary for a duplex for example and the renters monthly payment must hit .75-100% of the proposed PITI payment.

Apparently the zoning board's proposal passed last night.

Are there any issues to giving two or more lenders the go ahead to underwrite a loan proposal simultaneously?