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.

My thought Scott since BP is basically the gold standard with their training courses and we know how popular wholesaling is for beginners and BP having a lot of those starting their journey when you have your training events and such you separate BP from on line Guru's that will just tell you wholesaling with no rules is legal in all states.. which its clearly not.

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

You just can’t successfully operate in the real estate industry unless you master these concepts.  

The bonds example was very helpful and made the concept much easier to grasp.

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.