The tax " penalty" will probably service the debt difference on two singles over a duplex and .you get better tenants.

This deal is starting to look more enticing, and she informed me that the previous tenants lived there 8 yrs paying $1200 monthly rent.I do not have the reserves setup yet to where I can pay the 20k down.

Work must be done with licensed contractors and completed within 180 days after closing.The loan is based on purchase price plus rehab funds, which are drawn down as work progresses.They also include a reserve 10% minimum for potential budget overruns.3.5% down is based on the total amount borrowed.You also have to pay closing costs, which are substantially higher than a traditional FHA loan.

I am sorry, but I feel this is truly a service to those who are desperate to not ruin credit or who can not manage costs of repairs etc etc....  

I'm curious as to what the going rates are for different services.

I sell staffing solutions and consulting services to companies.

They will probably re-list with a lower reserve or send out for more standard MLS driven REO listing.

Different shops offer vastly different prices, quality and service.

Remember you will need your 3.5% FHA down payment and cash reserves for unexpected repairs/ vacancies.

It shows people you are serious about the investing, that you have a basic understanding of RE and some fundamentals that go along with it, and that you are legally able to be paid for your services.