They also have flexible underwriting guidelines for self-employed borrowers.2. 

The loan was set to close the end of June.The lender is now saying that due to "new" Frannie/Freddie guidelines, we have to collect the first month's rent before the loan can close. 

Lenders have expanded their guidelines to allow for up to 85% financing assuming healthy credit and income is producing above what the debt obligation would be for the home. 

If you're doing a conventional loan, Fannie Mae and Freddie Mac guidelines say that delayed financing will follow "cash-out refinance" pricing matrix which inherently has slightly higher rates than a purchase. 

Be it stocks or real estate.If I want to gamble, I'll go to Vegas and loose quickly on the slots so I can have a cigar and enjoy a cocktail.Much success

Fannie and Freddie do owner occupied and investment loans, but they have different guidelines.  

But yes, sadly most retail investors don't know what they're doing and end up gambling.4.

Not, hey lets gamble since I love risk with 100k or more, and lets put my personal house, and car etc on line.

Now that I am in grad school I cannot work due to program guidelines and time, but am still wanting to buy an investment fourplex that can build me some equity to offset these ridiculous student loans.

For conventional financing, condos need to be 'warrantable' if the condo or HOA doesn't meet those guidelines it is 'non-warrantable' and there are alternative or Non-QM (non conventional) lenders that offer financing.