Like many of the responses I would network prior to the purchase.After having some of the network I would house hack a duplex to quad with potential forced equity gain (i.e. not one that has already been rehabbed) using an FHA loan with as little down as I could. 

You may have to season your property prior to the cash out.

I do not understand this statute and the timeline as it applies to my situation for the unsigned tenant..When the tenancy is from month to month, by giving not less than 15 days’ notice prior to the end of any monthly period; Jan 22nd= we are moving out march 15th EMAIL CHANGE OF PLANS Feb 21= notified we are moving FRIDAY the 24th,,, next email no now it is monday feb 27th.... we want our money back... is this considered a 7 day notice?  

I caught my break because of my prior experience in real estate as an agent, as a NASD Registered Representative  (predates FINRA) and insurance rep, anti-fraud background as a manager at UPS and a landscape contractor.  

People will argue that they are building equity and that tenants are paying that off for them but equity doesn't by you your ham sandwich for lunch (financial independence)....what it does is it ties you down into an investment that your kids might benefit from or that your nursing home will benefit from when you get old enough. ...and what do people do...they get tired of maintaining that house that's making them $90 a month and try to pull more money out of it by not keeping a reserve for repairs or capex and they let it go the way of neglect....which reduces it's value....which means it loses the very same equity they argued about 15-30 years prior.  

not sure where you are buying but for houston, your numbers seem a little high. are you rehabbing the house prior to renting?

It isn't anything major that would need to be done prior to us moving in but we want to paint and have it cleaned really well before we move out stuff in.  

Do Not offer anything as a "deposit," "down payment," or "credit," prior to opening escrow. 

If the house was not put into rental service prior to doing the work, then the cost of improvements and repairs you made will be added to the cost basis of the house, not expensed.

Here is Fannie:Permissible Exceptions to Continuity of ObligationAlthough the following refinance transactions do not meet the definition of continuity of obligation, the new refinance transaction will be eligible and not bound by the limited eligibility parameters described below if any of the following are applicable: The borrower on the new refinance transaction was added to title 24 months or more prior to the disbursement date of the new refinance transaction.The lender documents that the borrower acquired the property through an inheritance or was legally awarded the property (for example, divorce, separation, or dissolution of a domestic partnership).