Partner up with someone who has not used FHA or who would qualify for FHA right now(parents, siblings etc) a lot of times don't want to own a primary or not yet.  

Even though I have two siblings in the town that my properties are in, I choose to go with a property management company.

The house was left to me but I decided to sell and split the profit since the Estate was broke when my mom passed and my siblings didn't get anything.

Nobody else wants the deal because nobody else is aware of the deal, as the property isn't even on the market, she is a personal friend of his who got the property (from a dead parent) unloaded on her from a sibling last month and doesn't want to deal with it.

I was thinking wait until sister one purchases her first home through FHA then the two oldest siblings purchase our parent's home by putting 20% down on a conventional mortgage and in the future have sibling number 3 assume the mortgage with us?

I talked to 2 siblings who's mother passed away.

Be careful, especially if you have other siblings.  

A sibling?

My parents passed a few years ago, and left my five siblings and I an investment property in Jersey City, NJ.

My client owns 1/3 of a property and wants to buy out the other owners (siblings).