My Name is William Duncan "Billy" from Cypress, TX and although I do not have any authentic REI experience, I have rented out the first two primary residence homes that I purchased just as a logical thing to do at the time.

The bank doesn't care whether you lend the money to a LLC or whether you go to the casino and gamble it away - they do care about getting paid though.

The previous town manager (held the post for 30 years, transitioned Eagle from a rural ranching area of less than 1,000 to a semi-resort area of 7,000, while maintaining an authentic community) was cutthroat on obtaining water rights from developments.  

The clerk of the county or municipal court in which such judgment is rendered shall transmit an authenticated copy of such dated judgment to the county recorder of the county in which the property is located.

Or would I just be gambling?

May be a bit of a gamble, and may or may not be worth it.

Soon (hopefully), it will no longer require the applicants to go through the SmartMove authentication process, and will instead give the landlord instant access to the credit/criminal/eviction report directly within the Buildium platform. 

You are gambling on XYZ to happen to get your return. 

The other thing that the Agent doesn’t tell you is what your chance of getting the property is - This is like Gambling - it’s like rolling the dice that you will get the home you are applying for.

They are gambling that FHA will never check in that first year or they have the ability to refi out of it if they do.