With the 5 solds ranging from $5K (no digits left out!!!)

Got a conventional 30yr fixed at 5%.

You can get a conventional or FHA loan but if you have to move quick to secure the property this could be an issue.

Based on your post you aren't going to get a conventional mortgage -credit and short term intent being the biggest two items.Look for hard or private money lenders that might be willing to work with your situation.

Assuming that you are purchasing a SFR as a buy and hold, and you're financing it with a conventional mortgage, would you even consider properties for which flood insurance will be required by the mortgage company?

Any other investment property you buy going forward using conventional financing you will have to put 20-25% down in today's market typically.

@Linda Weygant With this approach, every newly purchased (and mortgaged) property is almost guaranteed to raise your total DTI ratio.Let's say the target max DTI for a conventional mortgage product is 40%.  

(Make sure you do not go cheap and undersize your ac unit, you'll regret it later in maintenance calls or complaints of it not cooling the house off enough when it's triple digits and 75% humidity) If you need any wiring done, check out Bybee Electric - they'll get it done quickly and efficiently.  

If Fannie Mae does pay the fines current than I could use my conventional lender.

Right now I am working with Yadkin Mortgage for conventional loans.