Getting it under market value would be a bonus.So, would using an FHA 203k renovation loan, which would allow me to buy something unqualified for a standard mortgage, which would weed out a lot of competition and push the price lower.

So I was just wondering if its the industry standard for that type of purchase.

Now the tricky part is creating your underwriting standards and system.

My commitment is to always act with transparency, respect, and the highest ethical standards—because in the end, nothing is more valuable than a good name.

Also, I don't know if it would be worth it from a liability perspective either, but would advise to chat with an insurance pro/legal pro.When purchasing a primary residence, conventional loan guidelines will require you to take down the property in your personal name.When it comes to taxes, you'll likely be able to take the standard deduction AND itemize Interest, Taxes, Insurance, Depreciation, and expenses prorated based off the rented portion of the property when reporting the 1040 along with W2 income.

@Robert Piercethat's pretty standard

@Denise Lang some copy & paste thoughts:TYPES OF RENTAL INVESTMENTSRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

A shorter term tenant could do fine for you because they are not bad but just people in transition, so you don't lower your standards. 

That might be our only true recourse.I don't know what State you're in or if you used a builder contract or the standard State contract form.

The lender must satisfy the standard documentation requirements based on the source and type of income as outlined in Chapter B3–3, Income Assessment.All documents of a foreign origin must be completed in English, or the originator must provide a translation, attached to each document, and ensure the translation is complete and accurate.Note: All income must be translated to U.S. dollars.