You can do a duplex though, which might not be a bad idea.With your credit score, conventional might be a good choice, you only need 5% down for 2-4 units if you live in one. 

We don't practice discussing the details of private transactions publicly, thats just not good business.

The time for them to negotiate the price was when they got the appraisal done-they didn't, so too bad.Two choices-take the $5K and relist with a new realtor or negotiate with them for the $24K they are short. 

I even have a cousin who is homeless - by choice (?!??).

This is a personal choice and depends largely on your risk tolerance level and the current demand for rentals in your area.Vehicle Repossessions: Having a vehicle repossessed is strong indication that a tenant cannot handle their money very well.

At the very least you get practice running numbers and if you share your thoughts with the realtor they will have a better idea of what you are looking for in the future.

It is common practice for mortgage companies to later sell the already funded loan to a 3rd party like a hedge fund or a bank after the fact.

They have rules and best practices about how we put these deals together which has collectively saved us from much of the pain being experienced right now in the multifamily space. 

Thank you for coming back and clarifying it, the minor difference does make a difference to me in practice.   

Quote from @Felicia Richardson: Quote from @Jonathan Greene: It's possible, but not always practical.