An owner from another area of the state invested in a property sight unseen.

The deal is that once the principle hits the necessary 20%, that I would refi out.

I have my sights set on C type properties in the $25-$50k range which I would purchase with a combination of my funds and HML, rehab, and then refinance.  

There is no amortization to worry about with interest only as the principle balance is fixed throughout the duration of the loan (question 3).

The principle reason to ever go FHA is if you can't go conventional due to DTI or low credit or you live in a wild area where the difference between 3.5% down and 5% down is 7k...To touch on your questions FHA loans are specifically designed for owner occupants and the rules state FHA will not back one purchased for investment purposes.

A lot of this business is creating a strong brand by standing on the principles that make each of us successful as investors!

I have a seller that is going through a divorce and her house is going to foreclosure on Jan 7, 2017She owns a principle loan balance of a little over 200kThe Arv is around 220k-240k I was wondering what is the best way to help her out?

For those of you familiar with LTIC, is there absolutely no way around it other than to build the sidewalks, even if it's R10 and no one has sidewalks anywhere in sight?  

One plan I've considered goes against common knowledge, but might fit your goals if you really think things might peak.SellTake the tax hit Use the money to pay off the principle on my primary residenceGet a line of credit on the primary ready to execute at a moments noticeSit back, have a beer, and relax without thinking about rehabs, tenants, or refinancesBut keep an eye out for dealsIf the market peaks, I'll be in a great less leveraged place.

I'm not a fan of doing anything 'sight unseen,' and this is an excellent example of that.You can find plenty of success stories about doing things this way, but what you almost never hear about, are the failures.