Also you can only have one FHA loan at a time unless you move out of the geographical commuting area for that home.I hope this information helps.  

@Brandon Leong Thanks for the explanation!

I know, it's not very clear on this explanation but the "up for sale" thing is only if the borrower (you) has the home listed for sale under his/her name.  

I have been looking into the license and it all seemed so confusing so I greatly appreciate the explanation and numbers in your post.

I think I need a better explanation of LTV as it relates to REI who are flipping.

Agree it does complicate the explanation and understanding but like a hedge fund, its giving the GP more incentive to hit it out of the park but by doing so, all investors win.4) Your money blueprint - the psychology of wealth.I re-read a great book last week by T Harv Eker called the Millionaire Mind and highly recommend it.

He only works one or two projects at a time, and is somewhat selective about who he works with, what kind of projects he takes on and what geographical area. 

Explanation of Second Tier Entitlement.

Since I am from Dallas Texas and I have never been to the northeast so I cannot really suggest any geographical moves.  

You can do this locally, but most non-performing investors are not geographically constrained.Many more moving parts than performing notes but you can expect to make a huge percent return on any one note and get wiped out on others.