Listen to the crowd, but discernment is always needed no matter who they are and market conditions.

I've read the HUD handbook for FHA loans, but can't discern if it is actually permissible.

I personally vet locations using the DISCERN method, I would suggest this, and you can DM me for detail.

@Evan Loader  My assessment is that this will cause a lot of needless time, expense, and pain for no discernible benefit whatever.See "Prohibition of IRA Investments: Don't Cause Injuries by Fixing What's Not Broken" on Medium.com

If I were to have to choose between market rent on tenants that are a little more discerning and slightly below rent with stable tenants that take good care of the property, I will always go with the higher quality tenant. 

We're interested in investing in other areas as well, but without "boots on the ground" that we trust and have some confidence in their abilities to discern an opportunity, have not gone much further than watching the market via MLS and other online services to educate ourselves.As to the expense ratios here, as I said earlier, for us the 50% rule is a mandatory screening filter.

Some of us need to scale massively on a timeline to hit our goals so we don’t have the time to discern the most optimal next step.

But keep in mind that even at the zip code level, these areas vary from one section to the next, so you will need some eyes and ears on the ground to help you discern which properties will meet your criteria.

You should be able to discern from those connections which turn-key companies are the ones to go with. 

Definitely more discerning than residential loans.