Additionally, like was said above, FHA loans are especially advantageous when trying to buy a 2-4 unit property as you will still only have to put 3.5% down.

By way of example, single-member limited liability companies or any investment in an entity in which an individual is a director or officer could no longer be held in an IRA.IRAs holding any of the above investments would lose all of the tax advantages previously available to the IRA.

We currently rent and we have considered taking advantage of first-time homebuyer financing to purchase a home in our city, live in it for a couple of years to build equity, then renting it out while we live elsewhere.

From what I read and understand, it would be advantageous to deduct, just looking for other opinions or input.

Use the resources and people here on BP to your advantage.

That would make the ARV $900,000 which is so far above market it is not even funny.One advantage for me to own both properties is the potential to build additional units on the combined property, that would be a long term thing but there is plenty of space between the two lots to add another 4 - 6 unit building.Any suggestions on how I should deal with this seller/agent?

They are taking advantage of my father's kindness.

Maybe, it is unethical for tenants to the tenant to live in your rental unit knowing that they are taking advantage of you because you have mental issues in regards to raising their rent.If the apartment is worth $910 per month then that is what you charge.

You are trying to attract high quality tenants, not people looking for a mom and pop landlord they can easily take advantage of. 

I would really, really, really, advise you to make sure you are taking advantage of your 401k match if one is available to you through your company.