Don't let people reside in your rentals unless they've been screened, approved, and are on the lease.

The property determines if possible- start with Condos that are already FHA approved.

Buyers may be approved for a specific loan amount but not truly able to afford it.

Thanks @Jonathan Klemm for the mention,@Swetha Solipuram, The City does have a process to accomplish this; however, as it has already been mentioned, if you are not in one of the ADU pilot areas; it is definitely a long, and expensive process, which still has no guarantee of providing approval.

Hi Bryant,The best way to get started is to get pre-approved.

Property taxes and insurance are also going to be specific to a given property.All this to say, you can get a rough idea of your max purchase price, but your lender would need to evaluate on a case-by-case basis for approval.

Get pre-approved by a lender. 

@Michelle BackerYes you can get fha for a condo but the association needs to be approved for FHA financing.

I was a little concerned on how easy it is to refinance out of the FHA loan as far as approval and timing etc.

Main point is my parents did not get approval for this purchase on their property.