Also, any good meet ups in Charlotte for someone in my position?

The criteria we consider (in weighted order): verifiable rental history, income ratio, ability to maintain (income history/savings/assistance), credit score (judgement/collection thresholds) criminal history.

That is if the $26k you are putting in from the beginning doesn't totally strap you for cash.Also, and this is a personal thing which may not be true for you, I always want the numbers to cash flow positive after including property management in the calculations.Good luck.

The key factor, you being the negotiator, if you feel strong in this position and if you do not. reach out to a real estate investor and negotiate a percentage you are willing to provide for their service. 

@Alicia Gates(SFRs). [24 CFR §110.10(b)](b) This part shall not require posting and maintaining a fair housing poster:(1) On vacant land, or(2) At any single-family dwelling, unless such dwelling(i) Is being offered for sale or rental in conjunction with the sale or rental of other dwellings in which circumstances a fair housing poster shall be posted and maintained as specified in paragraph (a)(2)(ii) of this section, or(ii) Is being offered for sale or rental through a real estate broker, agent, salesman, or person in the business of selling or renting dwellings in which circumstances a fair housing poster shall be posted and maintained as specified in paragraph (a)(1) of this section,

To get the desired protection, you have to follow some rules to create a separate identity of the LLC such as maintaining it's separate book, singing all the lease in its name, and more.

Probably something simple I am missing or the deal just doesn't make sense.3 condos, the owner has 14 out possible 48 in this complex and if the deal goes through may lead to more deals with her.the condos are 1/1, 2/1 and 2/2, she is asking 76k for the 2 2/1s and 64k for the one bedroom. total 216k, she would hold a second position note for 30k with me putting down the remainder of the 20% down (13,200) and pay closing costs. she would like 6 payments, one each year of 5200 for 6 years which comes out to 31200 total, about 1.5% interest rate if my calculations are correct.For simplicity, I am counting the 3 as a triplex, so rental income is 2325/month, tenants pay for electric and gas, HOA of 185(555) per pays for water, sewer and garbage as well as exterior and common area maintenance, snow removal, grass cutting, etc. taxes are 266 and insurance is 50 month (HO-6) policy which I hadn't heard of before.

Seems to me in general people are working and have a family, sleeping, eating, cleaning, maintaining a pet and a car is all a major % of their time, they don't or can't or won't spend the time needed to be expert/comfortable enough to participate in and be good at stock investing for example. 

If your net monthly positive cashflow is 2.5x your personal housing expense plus all other non-mortgage consumer monthly debt obligations, and you are buying cashflow positive real estate, you can get a normal Fannie loan.

Let me explain.My focus when I started out was "Cheap" Cash Flow Positive properties.