If you can find one that does "portfolio loans" (a loan that is held by the original lender instead of being sold on the secondary market), they'll often times have more flexibility in their loan guidelines.

They have no such guidelines.

A new supplement to the HAFA guidelines "amends this restriction to allow servicers the discretion to approve sales to non-profit organizations with the stated purpose that the property will be rented or resold to the borrower, so long as all other HAFA program requirements are met."

Whole different kinda gambling :)

I do realize it’s cheaper than a partner but I am having a hard time not only stomaching the cost, but finding a deal that works under these guidelines.

I've considered using a wholesaler and I would be willing to pay them well if they actually delivered a distressed property within the guidelines I give them.

It protects all parties and puts guidelines and regulatios into the property.

I may be able to rent ready to low income tenants for something like $15k (wild guess) with most of that going towards one side of the duplex needing more costly repairs to meet FHA guidelines.

For traditional FNMA guidelines you are now considered self employed and will need a 2 year history.

You really need to be up on financing guidelines and personal finance issues as you need to hold hands with most in these circumstances.