Ignore Dave Ramsey he made millions telling people how not to be stupid like he was. 

Should I just completely ignore the FHA loan and try to get approval with a smaller down payment?

Will they institute the default rate over a technicality such as missing the completion date by a few months  or will they ignore the default rate because they see the reason for the delay wasn't entirely borrower's fault and borrower  has a plan of action to get the project on track?

From what I see all the people answering to me here (and there are so many) are just coming against and refusing to agree with my simple statement: "a landlord is not above the law or norms by its personal choice or presumed capability to judge what he don't know" or as well "a landlord cannot deny or miscarriage a service to a stranger without a known valid reason and at the same time pretend to be operating professionally or loyally to the moral"Basically I'm telling if you are not able to do your business correctly it would be better to find someone else than you, mainly when your ideas about "squatter" or fair treatment are coming from ignorance or completely invented. 

Of course, on the syndications we put together, we get some compensation for our efforts, so I'll ignore those when discussing my returns below.Of the 11 deals we've had that have gone full cycle, we are averaging about a 40% annualized rate of return. 

In the past when I am looking for a property manager I google to find all managers with physical offices in close proximity to my properties to narrow my search and ignore all sponsored adds that fake that they are local.Since you have self managed, you will be better equipped to "manage the manager".

I have been playing the multifamily game for almost 10 years now, and the GRM is one of my least favorite methods personally since it ignores so many important factors (steam boiler versus electric baseboard heat as an example). 

Ignore those comments.

Would the federal tax liability be $140k at year 5 for the sale, with long term capital gains (ignoring any Net Investment Income Tax)?

Whatever the case, I'd say you're wrong on this one for sure and the OP should ignore any advice you give - at least on this thread/operator.