My role does not require any underwritting to deal presentation to the principals.

Can they get pre-approved for a conventional loan and then switch to FHA once the 91-day requirement is met?

To me that is requires major compliments, and the review I posted is not appropriate.They really are going above and beyond in this circumstance and its not fair to them to keep this post online just because I wasn't able to reach them and discuss this over the weekend right after new years.PLEASE reconsider taking the post down.

There is no seasoning requirement involved since the property isn't a short sale and it isn't someone buying REO from a bank with a seasoning requirement.

One housing authority wouldn’t even entertain the request, while another was open to it because it was an affordable housing property, requiring just an application for the exemption.From my experience, dealing with government agencies, especially when trying to save money or get financial benefits, can be a slow process.

Costs vary but can range from $1,000 – $3,000 per unit.Water/Sewer: This is more complex and may require approval from your local water authority.

My suggestions:* Requiring code compliance and safety equipment is absolutely valid and should be part of the regulations* Requiring owners live within 15 miles is not necessary since poor hosts whether they're local or distant will violate the 3-5 warning system and earn a suspension.

Legal and Regulatory HurdlesReal estate transactions involve legal complexities that can overwhelm newcomers.Solution: Learn about legal requirements early on and seek professional advice when needed.

Mainly the panel is in the basement and it would require a ton of work and paying for labor hours + repairs. 

This 2 to 1 ratio is required because 1) they are work and my time deserves to be highly compensated. 2) big rehabs have some risk.