It’s stable cashflow and long term appreciation and tons of accelerated bonus depreciation on taxes. like most anything in real estate it’s a long term play. 

FHA is unlikely to play nice in this situation.Bank statement loans might be an option for you.

If you understand the math of it all it should come very clear, the game is NOT best played (1) buying in all cash, (2) buying and sitting on a property for decades on end. 

A 4-plex would be ideal and you could play around with doing 1 long-term, 1 mid-term, and 1 short-term, plus you, if it works on your area to upgrade your income.

Others noted that the appreciation play could make it worth keeping, I tend to look more heavily on appreciation since real estate investing is more of a long term game.

I'm not saying you can't make a decent return on rentals - I and many others here have done great with it - but if you have a well-functioning, profitable business that you know, why would you gamble money into Memphis *******es, to put it bluntly? 

I graduate in may and I am projected to play professional baseball after the MLB draft in July.

Happy to chat.Los Angeles is an appreciation play.

If it's a long-term play, the potential savings on PMI with a conventional loan could be significant.Have you compared rates for both options?

The play is that rather than having to wait until the foreclosure process is completed, the investor can rent out the property (and earn a return - after rehabbing it, of course) during the process.