It also allows homeowners who have damaged houses to finance the rehabilitation of their existing single-family home; Information on housing providers and HUD programs – The Department will share information with FEMA and the State on housing providers that may have available units in the impacted counties.

Cheaper the better just make sure you charge the tenants when they are damaged.

The numbers look good:Location: Broadway HouseNumber of Units: 1Rent: $1,350.00 Square Feet: 1,666 Upfront Costs:Cost per Unit $95,000.00 Price: $80,000.00 Cost per Square Foot: $57.02 Cap Improvements & Repairs: $15,000.00Cash on Cash Return:19.84%Total: $95,000.00 Debt Coverage: [minimum 1.6] 1.78 20%Down: $19,000.00Capitalization Rate (ROI)9.05%Current Assessed Value: $29,666.00 Loan Amount: $76,000.00 Net Cash Flow per month: $314.08 Interest: 4.88%Net Cash Flow per month per unit: $314.08 Term (yrs): 30Total Rent/Month: $1,350 GROSS SCHEDULED RENTAL INCOME: $16,200.00 Less: Total Annual Debt Service: $(4,826.40)Less: Operating Expenses: $(6,470.63)Less: Vacancy and Credit Losses (7%): $(1,134.00)NET CASH FLOW: 3,769 NET OPERATING INCOME - (NOI): 8,595 INTEREST: 3,680 DEPRECIATION: 3,455 NET INCOME: 1,461 Property Insurance: $1,000.00 Property Management (10%): $1,620.00 Placement Fee(30%): $405.00 Real Estate Taxes (5.06179%) $1,501.63 Repairs and Maintenance (12%) $1,944.00 Services: Snow Removal: 720 Utilities: Electricity: N/A Gas and Oil: N/A Sewer and Water: $30.00/mo Other

Would I be able to obtain tax credit on the mortgage interest? 

I applied for an fha loan through a credit union and they tell me FHA does not quialify for multi residence.

Go buy one already fixed up and you don't have the risk of repairs. 4 condos is too much brain damage.

Our credit scores are over 800 and my wife and I make about $134K a year.Can anybody help?

Alternatively, I have owned a separate LLC for 3+ years which could probably qualify for a large enough business line of credit to purchase outright.

Our financial specialist can help advice you with lenders here in Plano that can help you apply for home equity lines of credit if necessaryhttp://skandiaconstruction.com/f-a-q/https://www.facebook.com/peterjohannesenrippedmeof...And some more http://www.insiderpages.com/b/15257471596/five-sta...I would be very cautious.

From there, you could take a line of credit or be refinancing to pull cash out and then really come up with a plan for that cash to multiply it through flipping, buying, rehabbing and raising rents, etc.