(if they only require 15% down on a single family home that is usually a good sign that you are working with a flexible lender) Can I change title to my LLC?

There's that flexibility there with commercial loans to cover more than one property and they will let you keep it in the name of an LLC as well. 

@Joshua Costa it’s not clear what your question is, but I’m assuming you’re asking if there’s a way to buy another property with FHA sooner, despite what your mortgage guy said.Since it’s a Federal program (FHA), the fact that it’s in R.I. doesn’t affect anything.I think you could/should ask the question of another mortgage person but I’d be prepared for the answer to be the same.I also always recommend building relationships with local banks and credit unions who hold onto their loans (portfolio lenders), like Pawtucket Credit Union, Navigant, Washington Trust, Coastway (now Harbor One) etc.Often down payment requirements are a little higher, but not always, and you get a lot more variation/flexibility because they set their own terms for the loans - they’re not reselling them on the secondary market so the loans don’t have to fit into a rigid box (be “conforming” in mortgage-speak).I think it’s worth exploring, especially to start building long term banking relationships which will help when you buy more properties, but you may still find FHA is the best deal - it’s hard to compete with the Federal government :)I did a little research and it seems you’re mortgage person might be right, but I still think you will learn a lot from checking with another source and especially meeting local lenders.

This gives you a lot of flexibility.

That's why finding something in the REI space that is flexible and part-time works best.

Its was inspiring to hear about your creativity and flexibility in investing over the course of your career!

Some lenders have overlays and some are more flexible with overlays. 

This makes the debt and term much more flexible than regular term debt such as a traditional fixed-rate mortgage.

They have been pushing me to use it and I was planning on getting an online MBA (I go back and forth between a lot of countries so I really would like the flexibility at the moment to do it online). 

From my understanding, which may not be accurate, I feel like it is more of an abstract, subjective, flexible, and fluid rating based on all of those items that you've mentioned.