Ask your lender about these programs and if you or the property qualify for them.Rental Income - It would be nice if the rental income was used to qualify you but it may not be necessary on your income level. 

Matt - thanks for the post I would recommend getting an owner occupied purchase loan for the new property you plan to buy ...this will allow you to get best rates available I would also recommend doing a  " cash out " refinance on the  free and clear rental  in order to obtain  a larger amount of  cash / working capital  for your  projected  plans  ......ideally a heloc  program would be best to set up but most lenders / banks wont  allow a heloc on a rental  property so you would likely need to  use a straight 30 yr fixed loan ..adjust the loan amt  so that the  cash flow you end up with is acceptable for you

We keep getting told that because we are first time homebuyers and eligible for FHA loans for $250,000 and make less money so we also qualify for down payment assistance programs, that we are smart to invest in real estate.

Homes.mil is also a DOD free program!

Is in the IB Program and we’ve been told he can’t dial enroll, however he’s a 4.0 and is crushing it with extra clubs every day after school.  

Then the work will begin.The HomeStyle loan is ONLY for Single Family Homes.Other Important Items to Know about “Conventional” Renovation LoansMaximum – Minimum Purchase/Upgrade Amounts:Minimum: $ 5,000 (below this on an exception basis only)Maximum: Limited to 50% of the “after improved” valueOccupancy: Primary, Second Homes, Investment PropertiesRenovation Term: The renovation term for this program is a maximum of 180 days.The Borrower(s) is responsible for the work being completed within the escrow period.

I want to know objectively how effective Bob Diamond's Overages Program is?

My hospital always has droves of students in professional programs (MD, RN, therapy, pharmacy, etc).  

Lack of capital and gurus with a program pushing wholesaling giving the idea it's easy.Easier to get the money to just buy than the years of education and experience to know how to wholesale properly.I always wonder why they don't hold.

Would love to chat with you further if you are interested!