Love that you've had plenty of experience in the real estate industry. 

You inflated the price $70k but they are only making $50k in payments.

Hi @Rene Hosman -In a nutshell, I find motivated sellers and tenants with damaged credit (or ones without a large enough down payment) and work to put the tenants in the seller's house with an option to buy.

I found the code and zoning department for my community and am in email correspondence with them. 

Quote from @Travis Timmons: We live in Texas and do a medium term, furnished rental in Oregon.

I do think the ideal first-time rental is a four unit that you can live in and rent the other three units out, but those can be harder to find.

Quote from @Clint Miller: Anyone here in the community used construction loans to scale their development projects?

Hi Raymond, You are correct in your assumptions.

What made you interested in investing in this type of deal?

Must meet self sufficiency test for 3-4 units on FHA though, which alot of properties in higher cost areas do not meet.Conventional allows 5% down on 2-4 units.