Hi Scott, you don't need to be a first time homebuyer to use an FHA loan and you don't need to be low credit (as many would suppose), but the product probably appeals most to low-credit first time buyers.

I have 2 other monthly loan payments I would like to pay off or lump in with my refinance as I believe with the forced appreciation and normal appreciation I will be able to pay off most my HELOC (5.99%) and all of my Credit Card that is currently at a 0% APR until end of May.

As far as financing goes, I have now a steady income (although a small history), a FICO score over 760 (but never had a loan), and my dad who could co-sign if needed.

As a loan officer, I recommend first ensuring you have a thorough assessment from a contractor who specializes in fire damage.

Hi Stacie, Have you looked inot DSCR loans?

HUD.GOV is originating source for FHA loan info.

The only thing it’s difficult for is if you have multiple loans on the property.

The market is ALWAYS changing but I know at this time, seasoned investors are getting 80% LTV on DSCR in the 6% range and 90% of PP/100% of renovation if total loan does not exceed 75% of ARV for FixNFlip loans. =)  

I have two properties (exact same property just across the street from each other) one is a seller finance that is coming to the end of its contract for balloon payment and the other is a fix and hold Interest only loan that is also coming to the end of its contract for balloon payment.

To maximize your investment, use financing options like FHA or conventional loans, analyze deals based on cash flow and cap rates, and network with local investors through REI meetups and BiggerPockets.Good luck!