The appraisals are coming back nearly identical.

Credit card companies will investigate this through their fraud department.

You will never get it to appraise for the $350k also with an FHA loan you are saying you intend to live there for a year so if you are not actually intending that, that's mortgage fraud.

There's a school of thought under which this could be loan fraud:  the partner 1 gets funds from partner 2 in order to come up with the down payment, but does not disclose this background loan to the lender. 

To do 10% down loan with multiple partners seems like mortgage fraud to me.I hope no one ends up in jail.

I was going to give the tenant the option of staying for a slight discount compared to the identical neighboring unit.

I know it may be hard, but I recommend proceeding with an eviction if the rental assistance program is the only way for rent to be paid.I believe the VOA is just disorganized, but the level of chaos I have seen in their operations borders on fraud. 

You’ll sign the usual “I will live here for a year document” (do that, so you’re not committing easily provable mortgage fraud.) and sometimes they’ll ask for a “reason you are buying a new primary”.

You need to narrow it down to a square mile or two of nearly identical properties that you are interested in.

You may be surprised but if you have ever looked through the list of SEC enforcement actions, prosecutions, securities fraud related cases, you'd be shocked to find out that there are infact, very dangerous and sophisticated criminals out there who device all sorts of schemes to swindle unsuspecting investors out of hard earned cash.