Can I qualify for an FHA loan using my current NY job and use it to acquire a property in FL or someplace else for that matter?

Also, how do you plan to acquire properties?  

What length for financing term would be appropriate for acquiring lots and constructing single family homes for resale in today's market?

That would really jump start your business model and is how I have been able to acquire many units very fast.  

A client of mine (buy and hold investor) would like to begin acquiring properties in Dallas and Houston and she asked that I refer her to an agent in both areas.I am looking for an agent who is familiar with analyzing all the various aspects (Sales and Rental Comps, Cash flow, ROI, COC return, etc)  of buy and hold investment opportunities as well as someone who I can trust will honor the referral fee we agree upon.  

A client of mine (buy and hold investor) would like to begin acquiring properties in Dallas and Houston and she asked that I refer her to an agent who can assist her with those areas.I am looking for an agent who is familiar with their local RE market and analyzing all the various aspects (Sales and Rental Comps, Market Rent, Cash flow, ROI, COC return, etc) of buy and hold investment opportunities.  

Best options are to get an asbestos remediator (read: expensive) or to cover the floor as is. 

Remember that FHA mortgages have very stringent requirements for condition of the property, and its possible the current owner has gone through the inspection process and found that the property is lacking in certain areas, perhaps in items that the owner is unwilling to remedy prior to sale.Last note: you wrote that the owner specified it would NOT be able to be an owner-occupied purchase... was the property fully rented with leases in place?

Beyond the immediate goal I hope to acquire another property by the end of the year, but I have to narrow it down to a vacation rent-able home I can still use as my primary residence when not travelling or another multi-unit property.  

Have you had a mold remediation specialist take a look at this?