My gross income is a bit less than $7k (and I'm renting near top of market rates) with minimal repairs ($2k/y), but...1.

Just not seeing a good use case for FHA these days other than the lower interest rate.  

.- Project Update: North Nashville Duplex- Why Should the Fed Cut Rates at All?

However, rates have since moved upward.A 30-year fixed rate mortgage is once again sitting around 7% interest:For broader context, here’s a chart for 30-year fixed mortgage rates over the past 5 years:The real estate industry hoped 2024 would see a recovery in which mortgage rates fell and home sales climbed.

Cap rates:  Cap rates have been expanding, but sellers think they will tighten. 

What is your current rate and what are you being quoted?

With that low interest rate, you will have paid down a lot of equity in the deal and should be able to finance with a bank.

And you are looking at an interest rate around 7% instead of over 10%. 

Some people only want 10-20% of their outstanding lines/debt balances available while the other 80-90% to be in fixed rate notes.

I have a 2.5% interest rate on the balance of the mortgage.