To be an FHA direct lender you need to meet the following requirments: 1)Certified original audited financial statement with adjusted net worth of at least $250,000 that has been prepared within the last year.2)A senior corporate official showing at least 3 years of experience handling FHA affairs (loan origination and servicing background) 3)Multiple credit and background checks to verify legitimacy of the heads of the institution.4)$1 million warehouse line of credit or equivalent funding program to show liquidity and lending power.5)Business plans, quality control plans, E&O insurance policy, sanction letters, fidelity bonds and other formalities to provide security.As you peel the onion it makes more and more sense why some lenders offer certain services & products and why others simply don't qualify to do so.

@Daniel Lee you're going to do some great things because of your business background and entrepreneurial focus...well, also bc you've come to BP to connect and learn.  

That looks like a residential number.You might want to check a calculator to find a ballpark for how much of a loan you can get because 3M is WAY WAY outside what most lenders will think about (in your situation) and they aren't going to line up to give you money if you have no background in doing what you want to do.

Run his background, credit, application, verify employment, verify rental references, etc. and follow your normal lease requirements.

It is a beautiful area with a lot of high end homes.  

That's beautiful!

A little background: I'm a property manager, licensed VA real estate agent, and investor.

We now have a nice little house on a beautiful plot of land and two great kiddos.

I followed my heart to Austin, married my high school sweetheart, and recently became a father of a beautiful baby girl.

I'm a relatively new Las Vegas real estate investor with a background in low voltage.