A 3 or 4 unit must also meet the self sufficiency rule (75% of total projected rent must cover PITI plus mortgage insurance).

@Lidia BowersHi LidiaMy first rule of investing is to never purchase or own an asset that is negatively cash flowing.

If they are just shy of the cutoff and everything else looks solid, you will prob be ok.That said, I’d give the process at least a month before you start bending your rules.

Does the same rule apply?

Are the actual restrictions on FHA in a 4 and less multi where the down payment is coming from a 1031? 

I believe there are exceptions to that rule as well, can’t recall exactly.

You certainly do not have to worry about the Sheriff showing up in 60 days to evict you, the landlord would have to go through court and get a judge to rule in their favor before the sheriff would come out.If you don't mind moving you can negotiate a cash for keys deal, and the current owner would be the one responsible to for the relocation payment.Like Samuel said you should contact the RSO department and they will give you more guidance. 

Remember the he golden rule: you make your money when you buy.

We have been buy and hold investors for 10 years but have never dealt with this before so have a few questions.1) We currently have other tenants in place with a lease, what are the rules for notice to vacate for them?

Those are just rules of thumb.