If you do get a FHA loan you are required to live in it as your primary address for 3 years i believe unless you refinance out of the FHA.

If that $1M property was a dump and you $200k of renovation before the end of the year, that is going to effect both the market value and the exempted value.

Gross Potential Income or Effective Income / net rentable SF or total square footage ?

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

One thing I didn't see addressed here is what the financing looks like on modular homes.

Many have posted a few great tips already, that's the cool thing about this forum ;-) That said, I highly recommend using the awesome tools provided here on BP to learn the basics of analysis and underwriting.A few tips to get started and your continued learning:Read Beginner’s Guide.Check out BP Podcasts.Find and connect with other BP members that are in your area.Getting the Most out of BiggerPocketsHow to Effectively Use BiggerPockets to Build Your BusinessThe BiggerPockets Keyword Alert SystemFind upcoming real estate events and meetups near you.If you'd like to tag someone in the conversation, type @ followed by their name and then select the name of that person that appears below the comments box.

The surveyor really didn't know how it would effect my premiums but said that it might help.

His very last sentence was something to the effect of "there are tons of buyers and not very many sellers, so by purchasing houses straight from sellers we will bring value to the market."

Write a letter to the address found in the tax records.

I’m trying to get the most bang for my buck and I’m not sure which way is more effective, thank you for the help!