Now that the 5% down conventional loan program is widely available (since November last year) I generally recommend using that as opposed to FHA because FHA comes with minimum property condition standards, the self-sufficiency test, and it's less attractive to sellers.

This part is important, and you must ask this pointed question (in writing, preferably) to someone at the financial institution with sufficient understanding of the banking industry. 

Your primary insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

Is it correct that with verbal contracts that a 30 day notice is sufficient?

you could look for opportunities with reverse mortgages in default (backwards marketing) and tax defaulted property (the last group can be difficult to sift and sort due to large quantities).In the end, you’ll do much better focusing on solving problems that others cannot or are not willing to solve (hoarding, squatters, liquidity, defective title, skips, etc.).BTW, I started with working foreclosures (1978) and then deceased owner and title-impaired property about (35) years ago and have closed several thousand deals to date.  

You might find more than one lender who won't ask for the 6-month interest reserve but he'll probably ask for a bank statement with the 10% down 4%-8% closing costs 6 months of interest just to know you have sufficient liquidity.  

This type of financing requires the projected income of the property, determined by a local expert, to sufficiently cover the monthly mortgage debt.

Since then I've had a few other contractors come out and verify the work is not sufficient let alone up to code.

Since you plan to replace the countertops, it is not too difficult to move the cabinetry lowers should you have sufficient space.

., business and personal accounts with sufficient reserves to cover checks returned insufficient.When a contractor or service person I have paid needs the money immediately, and I’ve given them a check instead of ACHing or Zelle the money to them, they go to my bank (B of A) and merely exchange the check for cash.