If you need to be on the loan as well & you plan on keeping your current home, you run into the FHA guidelines regarding having more than one FHA -insured mortgage at a time.

In short, what they offer is fraudulent and they well know it. 

@Brad Birky, Well that sucks.

I get where y'all are coming from in terms of "be happy you've had a long, stable tenant," and yet I want to point out they have greatly benefited from being in the building this long as well.  

Still cash flowing and doing well.

House would purchase for 30k I'm a contractor as well reno for 25k - 30k so 55k- 60k total investment and property value of 100k after reno.

For long-distance investing, it sounds like you might already be familiar with the BRRRR strategy, which works well in the US too, especially in high-cash-flow areas.

As I left, there were still fifteen-twenty people left to pay.I am new to the auction setting, but there is no way this can be the normal procedure to pay at the end of an auction.

It's worth checking out at least :) Also, there's a lot of meet up groups involving real estate in the greater Seattle area, where you could network to learn more information as well.

There are some products out there for 3 months seasoning as well.