Not sure why, to be honest - I guess it sort of slipped.Anyway, they initiated a foreclosure and want $15k to stop (owed maintenance, late fees, attorney fees, etc).

My income is only around $1,900 per month (I am in graduate school right now).Just wanted to get some initial thoughts on my situation?

Which means your "INITIAL" (more on this in a minute) loan amount is $173,700.Now the FHA has what is called a "Funding Fee"...which is essentially a tax that you pay...and that funding fee is not brought to closing, but rather rolled into the loan itself. 

It's not enough to know that over the next 5 years, your purchase of an investment is likely to generate say, one and a half million dollars in actual net cash flow.You also want to know: how much will that asset be worth (vs now)?

The main thing is we take lots and lots of pictures to share which we use for an initial Rehab estimate.  

2) Just live off of net cash flow that the paid off properties are generating each month?

I guess we'd been more fixed on that area because initially been thinking of moving into a duplex we bought, and we know people.

I am planning on doing an initial rehab then start an addition (Master sweet) to the current property within the first year. 

Painting and anything I can do to tenant proof the home and document with the tenant during the initial lease agreement is the goal.

All dates, initials, signatures need to be in order.