As Account Closed has shown in the link, there are some regulations in place preventing you from routinely using an FHA loan to flip properties.It's my understanding that FHAs are for OWNER OCCUPANTS.

Under these facts the Association had to intervene in the bank foreclosure within 30 days of the recording of the Supplememtal Lis Pendens, and failing to do so barred the Association from liening the unit and foreclosing its lien.The affect on pending mortgage foreclosures is to prevent the Association from initiating a separate law suit for delinquent assessments when it doesn't have a recorded lien at the time the bank's Lis Pendens is filed.

Tenants know that even though security is not be used for last month's rent, there isn't much you can actually do to prevent it.

Any suggestions on how to prevent this or save money in the future?

I don't see anything on the websites of either program that directly prevents lending on a VA and an FHA loan, but that doesn't mean the banks don't have their own set of rules.Paging @Albert Bui for questioning

They also mentioned some affidavit that has to be filled out at closing which prevents the buyer (flippers) from wholesaling these properties.Has anyone ever heard of such restrictions?

I saw one house with these expensive egress windows, and built in ladders to the surface, but the grate at ground level had a padlock to prevent burglaries.Basements can be cold and damp, and often times have limited ceiling height with low hanging ductwork, pipes etc.If you are use to living in a single family detached house you will hear your basement neighbors and most basement apartments have little to no sound insulation.In general I don't even like finished basement in SFHs.

If you go the 15yr and then realize that it is preventing you from getting a loan to purchase more property, now you either have to pay costs to refi into 30yr so you can qualify again, or you may just have to pass on opportunities that could provide you more cash flow income.The other thing is a dollar today is more valuable than a dollar 15 years from now due to inflation.

And none of those would prevent me from continuing to invest out of state.

You can record it and then there would be a cloud on title preventing anyone else from being able to purchase behind your back.I wouldn't use any old MLS stuff in your advertising since that really wasn't yours to begin with and could definitely ruffle the wrong feathers.