There are a few exceptions to this rule, but this may not work with your plan on help the students during their Junior and Senior years5) Because a lot of specific paperwork and protocols go along with an FHA 203(k) renovation, you will want to find a contractor with experience working on this kind of project.  

I see your criteria, but I would strongly consider looking at Nevada.

Take a look at BP's blog where new articles are published every day: https://www.biggerpockets.com/blog4.Check out the BP Podcasts: https://www.biggerpockets.com/podcast5.If you want to network or ask specific questions about your local market, go to your local real estate forum and connect with investors from your area: https://www.biggerpockets.com/forums/86-local-real-estate-networking6.

However there are other issues specific to the Al. 

While there isn’t an exact, commonly agreed-upon definition out there, here is a handy definition for this specific loan product:DSCR loans are mortgage loans secured by residential real estate turnkey properties, strictly used for a business purpose and underwritten primarily based on the property.Important note: DSCR loans refer to the specific loan type, and the “DSCR ratio” (debt service coverage ratio) is a metric used for underwriting and evaluating these loans (and other loans), but the metric and ratio itself are distinct things versus what is referred to as “DSCR loans.”Some key things to note in the definition:DSCR loans are secured loans (meaning that there is collateral that the lender can take if the borrower doesn’t pay back the debt).

There you will be asked your criteria and then after answering a few questions you will be matched with 3-5 agents or loan officers in your area.

I'm waiting for a response back from the lawyer, but I'm not sure if he knows much about this specific issue.

I understand there are specific methods like cash out refinancing, HELOCS, and equity loans. 

Just remember to Check the Rules, as Nashville has specific regulations for short-term rentals like Airbnb, and it's important to understand them before you commit.

These tax credit servicer/admins are more specialized and they are working with specific projects so investors will have little interaction with them.I was a Commissioner of our large PHA here in Springfield, so that's the reason for my background on the topic, being an administrator/commissioner is an appointed position by the local government entity that "sponsors" the PHA, in my case appointed by the Mayor of Springfield.