As said, to avoid PMI your loan will be a max 80%ltv, and get a loan based on appraisal, verses purchase price/costs, you're looking at 6-12 months seasoning.

They want to know that you really can close in a very short time frame and that you have the necessary funds.

That is what I do with my SD IRA, I also am a managing partner of a fund which invests in notes and allows sophisticated and accredited investors to make double digit returns in a passive position.

The funds, however are not provided by the FHA itself but by a lender that works under FHA parameters.

Dues in my property's neighborhood increased by 20% right after I purchased because of a low reserve fund.

Part of the down payment is funds funds from a 1031 exchange.

I will be closing on my first deal in the next couple weeks and I have the funds for purchase and closing.

I would think if loans are secured by RE with low LTV, then you should get something back?

I will be closing on my first deal in the next couple weeks and I have the funds for purchase and closing.

Using the 70% Rule, my ceiling is at $126k, and with a wholesale fee and transactional funding, my ceiling is at $116k.That leaves us only $24k to cover repair costs, and I estimate repair costs to be above this.