Taking a 15 year mortgage will hemorrhage your debt to income ratio and make it difficult to qualify for more home purchases in the future. 

@Rosette PooleRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

If you find you are unable to raise the money for an all-cash purchase, switching gears to Fannie will only work if you have a LONG time to close in your PSA or have many extension options (which usually require more hard earnest money.)

Can anyone recommend any sites, courses, videos, or books to purchase so I can prepare for the test?

Purchase price: $185,000 Cash invested: $5,000 Sale price: $220,000 Occupied by my in-laws.

I have never purchased anything 'perfect' but all of my rentals could have been rented as they were upon purchasing them. 

If not, I most definitely would reach out to the tenant, introduce myself and ask if they are going to be out by the 31st or the 1st, I would communicate  to the tenant as if I know they were told they are expected to leave, otherwise you may find they "do not know" they need to leave even if they actually know they need to leave....In the case they claim they are not aware they need to leave, you would need to follow the laws in the state you purchased the property, usually you can find that info on the states judicial branch or speak with a landlord tenant attorney. 

I am currently purchasing a home that will work great as a Rent By the Room. 8 bed and 6 baths in the DFW area.

If you’re interested in assuming a VA loan, you will be required to purchase the home in your name and have enough cash to cover the seller’s equity in the home.

Purchase price: $2,000 Cash invested: $60,000 Sale price: $91,000 Bought this one from WCLB with the intention to fix it and sell on market to homeowner.