We inherited the existing tenants, and thereby created our own TK at zero cost.  

@Blake Elder On a sidenote, using a deed of that nature will  not convey your existing title insurance to the LLC     You should use a grant or warranty deed     They are the same thing just a different name      I could be wrong on this but you may want to look into it     Furthermore I don't think there's any more cost associated with the grant deed     I guess you could always talk to the person who gave you title insurance    

Don't string them out too long and squeeze blood from a stone - once you get something that works for you, make up your mind and go for it.In the end, hopefully you now have a home contracted with concessions that are significantly higher than your closing cost estimates, which can now be disbursed against your existing debts. 

I have asked two of their agents about pockets listings, and they act as if they don't exist.  

If the seller is super motivated, you should be able to make the seller-financing case; assuming the down-payment covers any existing payoff (if not, you could do sub2, but I have zero experience with that).As far as question #2 above (N/O/O loan that isn't based on your personal income), I have recently come across Account Closed who has a 30-year fixed program for buy-and-hold.

If the new owner evicts all existing tenants is no concern to me (but is very foolish imo).When selling, I highlight the turnkey opportunity and let it go at that.Just my $0.02

While it is still against federal law, enforcement by local authorities is non existent.

The only circumstances in which a borrower with an existing FHA insured loan for a principal residence may obtain another FHA insured mortgage on a new principal residence.

I have been and am looking for private money partners and I know they exist and I know people doing that very successfully in this area.

When you go to sell it the potential buyer(s) will almost for sure have a home inspection done and then they will probably want you to replace the roof so you might as well do it now. 15 years is along time for a roof (assuming that it is asphalt composition).