keep going after it. run lots of numbers and do a lot of underwriting. feel free to reach out at any time if you need help in your market. these properties that are 3 units are rented and then a cash out refinance that not only makes money but returns full capital to the investor on DSCR loans similar to the interest rate you mentioned above. 

Hi Scott, you don't need to be a first time homebuyer to use an FHA loan and you don't need to be low credit (as many would suppose), but the product probably appeals most to low-credit first time buyers.

To attract a partner, create a strong pitch deck, structure an appealing equity split, and build trust before making your ask.Good luck!

I have 2 other monthly loan payments I would like to pay off or lump in with my refinance as I believe with the forced appreciation and normal appreciation I will be able to pay off most my HELOC (5.99%) and all of my Credit Card that is currently at a 0% APR until end of May.

I would keep as much liquid as possible and essentially get you to 20% equity or more by renovating the property. 

My advice would be go for the most they will loan you as long as you're in an appreciating market and you can find a value-add.

As far as financing goes, I have now a steady income (although a small history), a FICO score over 760 (but never had a loan), and my dad who could co-sign if needed.

As a loan officer, I recommend first ensuring you have a thorough assessment from a contractor who specializes in fire damage.

If I were to approach a seller of a $200k home, and they had a remaining mortgage of $100k, could I get a new bank financed loan for that $100k, and have the seller finance the remaining $100k of equity to me?   

The only thing it’s difficult for is if you have multiple loans on the property.