Yes 5% down is only owner occupants as of 11/16/13.For Non owner the min is 10% down but that only applies to SFR not 2-4 units.The mortgage insurance policy through Homepath can be very expensive especially for non owner with 10% down around 3-4 points cost either in cash or about .5% more in rate (estimated or a combination thereof).

In fact we doubled it.

I have a buddy of mine renting out one of the three bedrooms in my home.

We can get the two bedroom homes for less than $40,000.

I have lower middle class rentals in Texas (rents around $900 for 3 Bedrooms).

Then a mini-mansion.

A three bedroom may cost $2,000. in one (tax rate of $12.62) and $3,500.

@Wayne Brooks could you potentially double close on a REO if you wanted to?

Wholesaling doesn't mean assignments and double closes.

We would like to get the zoning changed to make it a legal SFH and complete the interior conversion (basically making the 2nd unit living/dining into bedrooms)Does anybody know if I need an attorney or if I can just submit a zoning change request with the city?