For FHA, I would ask your lender to confirm that they considered the 100 mile rule in calculating DTI.

Quote from @Brandon Foster: Hello Ryan,STR is do able in the north county area but there are a lot of rules and regulations.The city of Oceanside right now will not allow anything STR unless it’s west of pacific coast hwy.This is changing a lot too so you need to be aware of that in your plans.Carlsbad is super strict too but there are some condos that are still available to do STR in.Medium term rentals are as safer bet but way less profitable.

Consider the "2 of the last 5 year rule" to avoid capital gains. 

I saw some properties today, only one of which I thought had potential, but an offer would have to be pretty low to hit the 70% rule which is the goal.

That's the only solution and it doesn't require fifteen paragraphs to explain or justify.

Quote from @Rajagopalarao Paidi: I have not seen any deals with this much spread like rehab+pp/.75, is this still valid and expected, because I have not come across any in this range  Hey Rajagopalaroa--Agreed--I don't use the 75% rule. 

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Fees should be clearly stated in writing, easy to understand, and justifiable.

Ive never heard of a loan mod being required for foreclosure as a blanket rule.

But then we have to get into talking about the passive loss rules, which may prevent you from actually being able to claim a tax loss if the deduction is more than your rental or other passive income.Or you can claim the actual expenses (gas, insurance, etc) for the vehicle and regular depreciation, proportioned by the percent of business use of the vehicle.