That would definitely be out of our reach, the 203k FHA loan would still remains our best bet as of right now.

I am not sure if your loan officer would get a better payday but a safe bet is that if they do not have investments themselves I would steer clear of their advice until talking to others with investment experience.  

Because then your broker won't get paid on the your mortgage that he just sold to the actual lender, and that would make him sad.I'll bet if you ask someone who will make money by selling - like a real estate broker - they will say you can sell it as soon as last week.

@Stephen HuffMy points:The OP is not even a member of the HOA (and never will be, his parents MAY become members)The OP knows there is a wet spot on the carpet the size of a dinner plateThe OP has not paid for an inspector and I would guess has no inspection report, he is relying on the word "Mold" which is passed through a seller and two agents, where a report could say "discoloration" or "Mildew".

big difference on somehting this small.how many rentals, what are lot sizes, age of homes, are you willing to self manage...because that is what your probably getting into to.

  :)  His last wish for me was to move to a smaller place where I would be comfortable living alone, both financially, and house size wise. 

So these are already decent size houses and the jobs are already there mostly through the NAVY and the government.

Great for a small to medium size landlord.

What size mobile will each septic support? 

Best bet is to keep your current rental (assuming your happy with it) and buy another property to live in - whether SFR or MFR is up to You & Wife.