Read this snip from Fannie Mae's guidelines:Borrower TypesRequirements for Owner-OccupancyParents or legal guardian wanting to provide housing for their physically handicapped or developmentally disabled adult childIf the child is unable to work or does not have sufficient income to qualify for a mortgage on his or her own, the parent or legal guardian is considered the owner/occupant.Children wanting to provide housing for parentsIf the parent is unable to work or does not have sufficient income to qualify for a mortgage on his or her own, the child is considered the owner/occupant.That means you could do 3%-5% down, get the owner occupied interest rate, get the cheaper PMI, and it'll be PMI that drops off once you have 20% equity, without needing to refinance, with no fraud or sneakiness required. 

When will you get the physical collateral (and can you inspect it before purchase)?

If after you do this you find you'd still prefer to invest in another market, then my advise would be to physically move to that other market and invest there as a local.

Make sure you get them to fill out a w-9 form so you have the right info for the 1099 and also keep that info very safe as now you will have their ssn# and if you cause that info to leak you could get in legal trouble...I would print and put in fireproof safe or only have 1-2 physical copies in safes, or if digital keep only in a secure/insured space like docusign or echosign.

To reiterate what @Joseph Scorese said, in NE Philly, the proximity to public transportation (SEPTA rail or bus) is very important. 

Hi I'm looking to get my real estate license in NJ but I have a full time job and a newborn so I don't have time for physical classes,so I was wondering if there are online courses that I can take and if there are several what is a good credible one.

Right now, DPH has great proximity to the Golden 1 Center but doesn't have a strong credible leader driving change.Besides the Woodlake area and one other sweet spot, I would steer clear.

I have a great job but am tired of having to physically be present for every $/hour and don't want to work like this for the next 30 years waiting for cancer to take me.Am hoping to meet good people and learn as much as possible so I have the tools to start making this passive income a reality sooner than later.    

It may include doing physical upgrades to get higher rents, bringing in new management to run the property more efficiently or filling vacant units with paying tenants.

This building shared water/sewer so the mortgage/deed is set up as a single home but physically it was a typical colonial split down the middle.