I was recently approved for a conventional loan on a duplex with 5% down with Chase through their first time home buyer program.

Had another horror story where a guy ran into a tenants house who was being chased by two other guys.

Chasing every nail with a hammer makes you miss alot of screws, bolts and rivets.Figured we were being metaphorical :)Good luck in your business!

It is an iterative process so reduce the risk you are chasing a dud. 

Sometimes the closing date is such that the first Section 8 payment after closing goes to the old (selling) landlord - make sure you remind your attorney and have an agreement and/or escrow in place so you're not chasing the old landlord for your Section 8 rent.  

@Ashley Willis Chase has refinanced properties for me in the $50 - $100k range (coincidentally for Indianapolis properties) and you can do it from your local branch in Anaheim.

Dont get in over your head chasing unrealistic investments. 2 years is a very small amount of time to learn and try to focus in on what you want to do. 

Then don't chase. 

I wasn't practicing real estate at the time and we found our own tenant & had to chase down rent every month.

If you want to keep chasing down those leads, tell one of your buyers you need a POF to use.