Hi Scott, you don't need to be a first time homebuyer to use an FHA loan and you don't need to be low credit (as many would suppose), but the product probably appeals most to low-credit first time buyers.

Check out FilePlace (linked at the bottom of every page) for free user-created resources.🛠 Tech issues?

You are right, when the inspector mentioned the possibility or prior water damage is when you should of had that basement inspected by a contractor/professional and not listen to your agent.Gregg is right, the sellers were aware of some of the damage which is why they gave you a 5K credit. 

I'm told the screening criteria credit score is on the higher end .But most of the listings I see are also on the same league.

With fewer buyers in the market due to high rates, investors who move now have leverage to negotiate on purchase price, seller credits, and even off-market deals.The biggest mistake investors can make right now is waiting for perfect conditions.

However, corporate conversions can still trigger taxes, especially if the properties have appreciated significantly.Corporate Spin-Offs (If Eligible) – A Section 355 tax-free spin-off could separate real estate holdings into multiple entities owned by different investors.

If you have any questions, feel free to Dm me.

We've all probably felt a little pain this year with rents and longer vacancies due to all the inventory coming online, something like 50,000 units in 2024...so plenty of vacancy and free rent while those get leased up. 

I have great credit but limited capital.

In order to execute on any of the strategies from #2, you will want to a work/income history and decent credit scores.