We enjoy touring the northeast and soon other parts taking them to lacrosse tournaments.

There is currently a renter in place.For financing, we went to a local bank , only to get denied because our debt to income ratio is too high.

Correct me if I am wrong but if I were to be pre-approved for an FHA loan, will the banks consider 4 units or less as a residential loan?

depends on the banks.

In other words, instead of using a traditional bank, the seller provides a note, or "takes a note back."

But now that it's over,the fight begins to find that next client.There is so much to learn and so much to do that it seems overwhelming.You have to accept that it's going to take time and instead of trying to do a ton of things at the same time,pick one or two tasks per day and devote the time to getting those done.Small and steady steps will keep you moving forward,that's the game plan.I need to build a website that clients will enjoy seeing and using.I have to reach out and touch every person I know or use to know and still talk to on Facebook.I'm planning on a lot of lunches and dinners with former high school classmates and fellow employees from my previous career of 20 years.

Don't skip this step, as it is critical for banking, obtaining loans, and for defining the terms under which you and your partner dissolve in the case of a disagreement. 

@Rory Compton - It's a short sale, so the list price is really irrelevant, because it is subject to bank approval.  

Is that something a bank would do?

I also enjoyed your podcast I listened to the other day, about type story in REI and starting the TWO clubs in your area and helping others to do so, also.