Be sure to include not just fixing leaking sinks and the run of the mill maintenance items but also make-ready work and other odds and ends, like regular seasonal items (checking furnaces, A/Cs, lawncare, etc).

Secondly, depending on your state laws (and left coast consumer laws won't help you)  the old "hold a QCD to avoid having to foreclose" usually won't stand up in court.....referred to as "circumventing foreclosure laws".I'm sure your market there is competitive, so the worst he'd probably do at foreclosure is the property sells for $600-$700k and he walks with $400-$500k cash.....probably much better than you'll do for him.

I picked one up and walked through the house, with the 2x4 ready to swing. 

The previous owner never had leases drawn up, so they tenents are on month to month.I'm currently getting the other 2 units ready for section 8.

I'm active duty military and I'm getting ready to retire from the military within the next two years.

Spent the last two months rehabbing the entire place and the second bedroom is ready for a renter.

Now I’m ready to buy a 4 family home and want to use an FHA loan for the first time. 

I think the most time consuming part will be writing the shipping addresses by hand.

Jim Cramer among others are predicting 1 million per coin so get ready for a wild ride. 

be sure to calculate all costs, so you know what you'll actually haveget your home ready and put it on the marketonce you get an offer, counter with a higher deposit for protection and a completion that suits your needsnow go into the wild and find your new homeonce it is found, secure a completion that is before yoursif the buyer of your home bails, you'll have the deposit as some sort of security (on a 300k home, 15k is reasonable)Alternatively, you could simply flip a few of those steps.