It may require different insurance too..

.: Quote from @Jay Hinrichs: Let me break your post into parts, as each concerns a different subject and as such requires a different response.1.

So it does appear to be possible to get an FHA 203k loan for a 5-unit & convert to a 4-unit.When possible, aim for the Limited (aka Streamline) 203k loan, as it's less complex, not required to get an FHA consultant, etc.Of course, this is based of the two following important assumptions:1)  zoning allows for this2)  and obviously I owner occupy for at least 12 months3)  the total purchase price + renovations are within the FHA loan limits specific to my areaWhat I'm confused about is the timeline or chronological order of the process? 

Are there any loans out there that require less than 10% down?

No rules to follow on HM investor loans lenders make the rules unless your in one of the about 15 states that requires a license then there is just a few simple docs that must be signed by the borrowre.

Do you require renters insurance?

If STR material participation requirements are no longer met, depreciation deductions may be limited, impacting how much you can offset against active income.

If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee.

In this study, new construction is defined as a habitable structure requiring load-bearing features and MEP utilities (mechanical, electrical & plumbing)Below shows which cities have had the most activity:Question: Do you see activity increasing for the rest of Q1?

Cash in from other members seems required.