I would think that if you have an FHA Loan in place you could easily keep this property and turn it into a STR.Also, you can have up to 10 FHA loans out at 1x before you have to get into DSCR Loans.If I were you, I would go purchase the new property, and then wait 60-90 days, and see what type of Refinance I could get on your 1st property. 

Setting up an LLC could be an option down the road if you expand your investments, but for now, it might be simpler to report it as personal income.

The person I sold it to made $40k weeks later doing nothing to the property but listing it on the MLS.All because he had more leverage.He knew I was in a tight situation financially and took advantage of me.He turned me into a motivated seller.

This growth is fueling demand for housing across the city.Economic Strength:The city’s diverse economy, anchored by aerospace, defense, and tech industries, keeps unemployment low and median incomes high.

I will keep you updated on my progress  

What people fail to realize with many seconds is these are desktop appraisals, which is not someone even visiting the home, and the CLTV also can be way off from the appraisal.So personally i agree, for my business - we see it as opportunity. 

They always get contacted by investors looking for deals and a realtor can help the entire process be more trustworthy and smoother than some random person on FB.I myself am a realtor here in Houston with a buyers list I have developed over my last five years of being in the investment real estate space.

Be careful with personal recommendations.

In addition to trash and some other problems I'm wondering if the theft is enough to keep the deposit.

It'll keep you organized and help you maintain meaningful connections with your network.