Hey Forrest depending on the Loan to ARV you should be able to qualify for 90% of the PP + 100% of Reno financed. 

The loan is based on the income of the property for qualifying purposes (in addition to credit score) versus your personal income.

Or rent out our primary residence and move into the second home?

I was told by a lender that it is possible to qualify for first-time homebuyer grants/assistance due to him still be a FTHM and still using my income to assist with the home purchase.

Investment Info:Single-family residence wholesale investment in Leesburg.

I would try to get a connection at your area's section 8 office, so they can review any property before you buy it, to make sure it will qualify for section 8, and they can tell you how much it will rent for. 

Complete the notice form listing all adult occupants on the “Resident(s)” line and make at least one copy of the notice for each adult occupant,and one additional copy for “all other occupants”.2.

It is a new construction single family 1-unit residence.

Ask yourself, if this was at your primary residence, would it have taken 2 weeks to get a new refrigerator? 

Investment Info:Single-family residence buy & hold investment.