The previous owner has told us both tenants have always paid on time, but their current lease has surpassed its end date and they are on month to month basis because no other written agreement was made.

For about sixty bucks, I have gained a wealth of knowledge (including references to other sources) surpassing that of overpriced gurus.

@David M.Is there a process where I can get a conventional loan for my next multi family property at only 5%, 10%, or 15% if I would be using the new property as my primary residence once the 12 months has surpassed on the FHA requirement of the first property?

Congrats on getting started, you surpassed 95% of wannabe investors with your first mailing.  

The  returns far surpasses the average return on a residential property and minimal management (W/proper management placed).

I originally was very bullish on using the 5% Conventional MHP One loan product but I ended up surpassing the income limit during the underwriting process and I was forced to either put down another 60k OR use FHA, and I chose FHA all day long!

But.. this is a code violation not a criminal offense, the fine must match comparable code violations or it likely won’t hold up in court if challenged. never been a municipal lien on the west coast that we could never negotiate down.. the cities know it when the liens surpass the value it does not one any good. 

Their minimum standards will most likely surpass your local zoning & site built proposals.

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Any multi I look into for myself (or my clients) must have the potential to cashflow at least $800-$1200 per mo when fully rented (we usually surpass this number after bringing in creative strategies).With that said, if you choose to refi, the rate may go up slightly, but remember that if your 1st loan was FHA, you're also knocking out the PMI which will save you at least $200-$300 per mo my guess.If my clients want a single, I always advise they do an FHA on a multi first, then do a 5% conventional on a single.