Most people cant meet these so they have to refinance out of their current FHA loan to free it up for a subsequent use but if you do meet one of those exceptions then a borrower could conceivably get a 2nd FHA loan.If you're moving out of a property that has a FHA loan and looking for a 2nd FHA loan you'd have to meet one of the above and 25% equity requirement on the property you're vacating as well.

Originally posted by @Kailani Tom:thanks Tom well i think the LLC is waiting it out and milking it, the home is definitely worth more than what I owe in mortgage so the LLC is sitting pretty for right now, I just need this situation done so that I can get back on track..If you eliminate personal responsibility for the Note by filing BK, the lender will have no recourse other than the property... and yes they will foreclose.If the LLC is alerted to the fact that you're planning to file BK and that the gravy train is coming to a stop, perhaps they'll negotiate with you... and you could conceivably negotiate with the lender at the same time.An interesting twist to this is who would be entitled to the surplus following the lender's foreclosure.Anyway, keep BP posted.

Having another 800K rehab cost put into it is conceivable one can come out 400K after a 2.1M put into. 

This type of pre-conceived quid-pro-quo is called a "step" or "linked" transaction by the IRS, because it is nothing more than a scheme to avoid an otherwise prohibited transaction and will be treated as such. 

It is conceivable that you purchase a property with the intent to hold for productive use but found out it would be a "rental you couldn't rent". 

If someone were to be injured on one property they could sue and conceivably reach inside the LLC to take all properties owned by that LLC.

There's a wealth of knowledge on this site, with people in every niche imaginable, and from every background you can conceive.

I don't want a partner, need a partner, want to be your partner, or create any kind of conceivable offer to begin a relationship which could be construed by the Overseers of all things BP as advertising for such a partner. 

Kind of a backwards way of thinking I suppose; short term rentals probably can't inflict much damage on a property the way a long term tenant conceivably could, but I like the stability of a long term renter personally.

It is possible for another IRA to lend funds to Jenni for her real estate deal, however the type of pre-conceived quid pro quo transaction would be considered "prohibited transaction" and violates IRS rules.