If both tenants renew, I won't have to do anything, except the porch.

It will have an exception for the loan that's being left in place.  

There are very few upgrades in the house with the exception of a few things like wood floors.  

I tried a lot of different aspects of real estate investing, took a crash, lost it all decided to focus on one thing I did well and become exceptional at it.I always enjoyed transforming ugly houses into beautiful ones, never liked dealing with tenants.decided to put all my eggs in one basket and guard the basket.., focus on one thing.... best decision I ever made.

I hear a lot about how we can't do them, but no one talks about the exceptions.

The exception to that would be for REOs that are owned by small/local banks.

Lenders may offer special circumstance type loans, they may use conventional guidelines but may not turn them into the secondary market, as these loans season they may later be sold in the secondary as exceptions fade away and seasoning cures the initial issues.No one in Utah can say what will be done in underwriting a loan in Cali or Florida, it can depend on the lender and regional markets.FHA does not make loans, they guarantee loans made by lenders under those guidelines but any lender may require additional conditions or extend requirements.

We have been looking into other states to invest in, and we never even considered the northeast states (Illinois to Maine, basically, with one or two exceptions), among a few others.

As of last month, all of my tenants (with the exception of one) pay via auto pay on their pay day.

I would call legal counsel for the Commission and explain those points you outlined, except the no partner part just saying my dad and I, I consult with him.