In the mean time, build a one-room or studio dwelling on the property as well, and then after a year move back to FL.Really wondering if there's a quicker option than "work for a few years to make money and then start." 

FHA loans are designed for borrowers who don't have a lot of money.

Hi Kenny-Great question about whether you should put a house you plan to live in and rent out parts to others in an LLC.Certainly putting it in an LLC would help with asset protection and limiting personal liability.However, you may lose the ability to claim the part of the house you live in as homesteaded tax rather than the higher non-homestead investment property tax for the entire property in an LLC.

The reality is people are making money in virtually every market.

Flooring can be a basic vinyl or even a DIY job using peel & stick flooring.Expensive materials is more risk for the landlord because when they get damaged there is more likelihood you will lose money on the deal because collecting damages exceeding deposits if difficult.

Lenders typically originate the loans to investor specs using a warehouse line/line of credit (meaning borrowed money the lender is responsible for), then immediately (within 30 days) sell that loan to an investor.

You need to study Low and No Money Down Real Estate Investing.

I'm leaning towards the Authorized, even though it's a bit more money.

Coach Carson talks about the small but mighty investor and how you're way ahead of non-RE investors with a few solid appreciating properties3) If you haven't done this already put your money into high yield savings account so your cash reserves can grow 4 to 5% not a regular savings account earning 0.1% interest. 

Just because you're paying a higher fee doesn't mean you're getting less money in your pocket at the end of the day.