I have been reading at building codes to have a better understanding of the field. but as my priority I would like to get a construction project management job, improve the skills and then jump on it feeling more confident.

. = $5510% MGT fee = $110Mortgage = $253, 20 year amortization @ 5% Taxes $116 per moInsurance $75 per mo total = $719 per mo2% rule = 2.20%Capex = 15%CoC = 33% (turn key, est rehab to be $1000-1500 - new appliances, needs a few new doors) , $2000 closing costs, $10,000 down payment) The duplex does only have 1 furnace and 1 water heaterMonthly cash flow = $381 Am I missing anything? 

I spoke with my lender and he told me FHA recently changed their rules...he said if I already own property then I can't get an FHA loan for a primary residence (even if I have 20% equity in the rental properties).

HI I purchased a home in a multi unit (R4), high density zone.I am currently renting the house cash flow is just $50 after mortgage payment.This house has a big workshop in the back with a high rise ceiling, brand new roof, electricity and water.It sets in a half an acre lot so I am able to rent the workshop and land for $700 a month Total cash flow on this property is $750 a monthI'd like to enclosed this workshop (it has 3 brick walls already built) and make it into a livable place.I can still rent the land and keep the cash flow at about the same amount ($700).However there's no sewer  at this house just 2 septic tanks attached to the main house.Workshop will need:windowsanother walldoorscooling and heating systemBathroom etc...I can build build more units attached to the current workshop since there's so much land to play with but i have no idea of the cost.I purchased this home for $150k in 2016I owe 143Klast month I paid for an appraisal and the current value is at $185(flooring was the only improvement at the house).Question is should I refinance and bring in sewer line, build more units or live it the way it is?

I hope this is not interpreted as a solisitation I know that is against the rules but I do have a question on my primary residence.I have had problems in the past securing loans because of my lack of W-2 income.  

My experience is maybe some emotional motivation but I feel if I can provide improvement to the area and give students a better place to live and maybe sacrifice some margin,  I am helping to improve the community.

I am all for paying to learn, but you just signed up to learn the same lesson for the next 10 years without hope for improvement.

Every state has rules regarding payment of properties sold at auction.  

Which leads to a second matter, while you may be able to improve revenues or lower operating costs sufficiently to meet your metric of $100/mth free cash flow per unit, you should not pay the Vendor for the effort you will expend to realize that potential.  

In fact, their credit score will probably improve!