@Ryan VanDuyne the important item for a FHA loan is your intent to occupy the home as your primary residence.

You could form the parent LLC in whichever state you and your wife remain residents of.

I have a primary residence that I house hack currently.

Lenders that sell their loans today are also taking part in what they call CMBS 2.0 (post 2007 underwriting criteria, where it is very common to see certain terms and conditions implemented for the additional security of the bondholders, and the increased risk of the Borrower (you)).The one thing that I see over and over – even with some of the biggest players in the market, is this: Investors spend a lot of time and attention on the due diligence of the property, economics affecting property performance, property management, repositioning, and on closing the loan - - and NOT AS MUCH ATTENTION IS USED TO PREPARE FOR THIS ENTRY INTO THE FINANCIAL MARKETS, (WHERE THEY WILL BE RESIDING FOR UP TO TEN YEARS) AND HOW IT CAN ADVERSELY AFFECT THEIR RETURNS.

Just heard that Fema trailers that are currently occupied here in Baton Rouge are needed in Houston...and so the residents are being moved out and given subsidization to rent condo units...has anybody heard anything about that here in Baton Rouge or close by?

Single Family Residence (SFR), Multi Family Residence (MFR), Commercial Small Apartments, Medium to Large Apartments?  

The rental market in the med/small city I reside in is strong with a good outlook. 

I'm not sure if you're familiar with FHA loans but you should be able to get a loan on a primary residence for 3.5% down.

I currently reside in the Washington DC metro area and as a relative newbie to all of this I'm looking to get started in real estate investing.

May get a tailwind as my primary residence as well as sold property #1 and target property are all in Presidential disaster area.