HI Chris,Yeah the option would be to utilize a 203k FHA loan or a Fannie Mae Homestyle renovation loan the only down side is that the FHA 203k similar to a regular FHA loan has self sufficiency requirements on 3-4 unit properties so if you're in a area where rents are high relative to price then you could be good otherwise you might not be able to meet the rule and use 203k to finish off your repairs to the unit.The other downside is if you used home style reno loan is that you'll need 25% of loan to cost as a down payment (acquisition price + rehab).With the Home possible program the units have to atleast be habitable shape.

If there is slope on a lot that you are looking to buy, there may be an ECA (Environmentally Critical Area) or slide prone designation tagged onto the property.

FHA 203k (still permanent PMI) or the Fannie Mae Home Style loan.  

Either conventional rental or AirBNB style, perhaps?

For me I would like to eventually move more into larger apt complex style of investment.

My suggestion is to make very specific rental criteria and as suggested previously host an open house style showing and take a bunch of applications at once.

Comps:Without knowing the neighborhood or the variety of different home styles in your area, its hard to say whether or not 225 is an accurate AMV.  

Hello,My wife and I are in the midst of closing on a ranch style home that is approximately 2000 in square feet in Monmouth County.

We changed the interior of our home into a contemporary style and we also repainted the full house.

Here is my short list:Comprehensive lender control panel with servicing notes, status on unpaid taxes, payment history, etcA 'control center' to deploy force placed insurance, and ability to have servicer send CFPB required letters to borrowerTax tracking integration Loss mitigation services with active updates to lender on control panelAn active discussion board style system that lets the lender have a dialog with servicing staff on any matter.