If you're new to this, have them explain the whole process of how they would get each job done.

So it does appear to be possible to get an FHA 203k loan for a 5-unit & convert to a 4-unit.When possible, aim for the Limited (aka Streamline) 203k loan, as it's less complex, not required to get an FHA consultant, etc.Of course, this is based of the two following important assumptions:1)  zoning allows for this2)  and obviously I owner occupy for at least 12 months3)  the total purchase price + renovations are within the FHA loan limits specific to my areaWhat I'm confused about is the timeline or chronological order of the process? 

The biggest mistake a first-time investor makes is never buying. 

There are numerous reasons why they usually do not make good rent properties. 

I agree with others have said, if they can make 24% return, why wouldn't they just borrow at a hard money rate and just make the 24% themselves.

Very tough to make any predictions.

Stick to the lease agreement and landlord-tenant laws—most headaches come from trying to make exceptions.

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.

Make your life revolve around it and you will be successful.

Anthony,Per my previous numerous communications, JBS is in the process of finalizing all accounts including yours.