Should my rejection letter read something like this:We're sorry to let you know that the property at [address] is no longer available. At this time we've rented this property to other applicants. Thank you.Do I nee...

I'm currently trying to learn more about the advantages also... hopefully someone with some experience with this will weight in here.Terry

I'm not sure you are considering factors such as, off the top of my head: 1) unlike the have-a-pulse-get-a-loan scenarios of yesterday, they are required to have proper debt-to-income ratios and meet reserve requirements so as long as they don't lose their job for an extended period, they've proven they can afford the payment; 2) even in a down market, they will have to live somewhere, so unless rents are much cheaper, which is unlikely, it makes more sense to not ruin their credit, keep paying and stay where they are, especially if they've improved the property at all; 3) these loans are much more likely to be 30-year-fixed, not the ARMs of yesterday that adjusted up to a surprisingly unreasonable payment (many didn't understand what they signed up for until, Wham, the payment doubled on them, so they had to walk); 4) they pay MIP, upfront and monthly, so there is some protection for the lender if they do default.Many of these people would be stuck paying much higher rents, building others' equity instead of building their own, without FHA loans.  

Ensure you screen properly, take security deposits and get parental co-signers for anyone who doesn't have a strong rental history.

REOs in DC proper are almost nonexistent.

Your lease should give you rights to entry given proper notice to the tenant.But why would you want to knowing how hostile your tenant is?

(reposting...I don't think the first one went through properly, my bad)I'm an Operations Manager for a commercial architectural metal, stone and wood restoration in the SF Bay Area with experience managing resort facilities in remote locations in Kauai, Hawaii and rural area outside of Austin, TX.  

Most of the problems investors run into fall into three buckets: underestimating rehab costs, underestimating rehab time or not properly assessing ARV.

Learn and understand the market and communities where I'm looking.I'd also like to learn about the proper way to get started wholesaling, structure understanding/maximizing the tax laws/incentives (and landlord/tenant laws!)

@Matt TyykilaI read a posted suggestion this morning from @Conor Hesch who suggested this: I'm not able to properly tag his name apparently and hopefully he doesn't mind me resharing his advice to another asking a similar question..."