I looked at the rental trend over the past 10 years, I should be fine in year 7 for the refinance unless rates are totally out of this world.Your right those rents would be really low for Stamford. 

We've been extremely lucky with our first tenant- she is wonderful.

Department of Housing and Urban Development (HUD) and Bankrate, the big perks of an FHA home loan are:Lower Down Payments: They typically require a smaller down payment than conventional loans, sometimes as low as 3.5% of the home’s purchase price.Lower Credit Score Requirements: They’re designed to help buyers with credit scores that might not qualify for conventional financing.

Both of these allow you to low down payment loans to buy a primary residence with fixed interest rates.

The program is designed to assist low-income families, and these benchmarks might exclude a lot of qualified people.That said, the requirement for stable rental and work history is reasonable, but you might consider relaxing the credit score or income requirements since Section 8 guarantees a portion of the rent.

We are in a constricted market cycle, low volume, strained budgets, high costs.

Myself, I specialize in Section 8 and low income properties.

The price is about as low as you can go in Southern California.

They said that was too low for them, so I offered $175,000 and they accepted. 

- My first thought is offering cash, but the home owner would most likely just let it go to foreclosure because of how low the offer would be. - My second thought is offering some cash and taking over the loan - there are no liens on the property yet.