•Instead of transferring the title, consider using strong landlord insurance, an umbrella policy, or a land trust (with your LLC as the beneficiary) for added liability protection.Your FHA Loan Potential for Another Property•Since your first home is already a rental but was likely purchased with an FHA loan, you may still be eligible for another FHA loan—but only if you meet one of these conditions:•You relocate at least 100 miles away from your current home.

My property, however, has a 17,000 sqft lot, which offers potential for a future multi-family development.

Finding a potential lot won’t be hard but getting a local municipality to give you the green light to build an MHP is going to be next to impossible.

I ask because we only buy houses around the southern US (TX,OK,AR,TN) but we're curious to know if more opportunities to buy foreclosures could potentially exist in other markets. 

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

A potential issue that could pop up with the refi is your current address on the application being the subject property on a business purpose DSCR loan.

I had been discussing this property with the owner for a while and saw its potential—distressed but with strong fundamentals and built-in equity.The deal was a great opportunity to apply creative financing, secure a property with minimal upfront capital, and build long-term cash flow.

It has so much potential.

It gives you one property that can potentially pay for itself while putting a roof over your head and giving you experience as a hands-on landlord.

This also includes any potential benefits for tax losses, no matter where they are sourced to.Given the property is in MO, it would also be subject to income tax reporting in that state, unless there are any exceptions to having a filing requirement there (I don't know MO rules off the top of my head).