It will familiarize you with the basic terminology and benefits.

Freddie has similar intricacies, but also does not require a two year history of receipt; https://guide.freddiemac.com/app/guide/section/5306.4If you can use the rental income to drive the DTI down so that you can reduce the down payment similar to that of the FHA product, the benefits of the conventional option will outweigh the FHA option, as I'm assuming you have a strong FICO based on rate quoted with no points.  

If I don't see myself providing/deriving value from it, I leave it alone. 

I would invest in coaching after you've done a deal or two and can truly benefit from it. 

Also, the tax benefits of the buy and holds help offset the increased tax consequences of fix and flips.

Despite all your efforts to buy them goodwill, they will give you the middle finger when it benefits them.

Our investors benefit from immediate equity creation, and long term predictable cash flow, overall a great investment for us!

From my understanding doesn't seem as though it would pass through, rather the fund would benefit and therefore returns would be better.

Another benefit: three friends renting together typically need their own policies.

It's people like you who cause folks who would actually benefit from an ESA to be painted with the same broad scammer brush.