@Brian GarrettGotcha, understandable We haven’t ruled out flips just yet, just trying to see what other ways may be out there, or if 20-30k would be sufficient depending on the market for a flip.

@Kristopher Toribio the other thing I forgot to mention on the FHA loans that comes up a lot is the "self sufficiency" guidelines.

Without the existing key, the tool is not sufficient for getting in. 

I think the main idea of my post is that banks don't typically lend to businesses without sufficient assets and business operations - likewise, banks typically don't lend to individuals without income and credit.

I was just wondering whether most investors find the deals first, get it under contract, and then find funding, or if they find funding first and then find the deal to get under contract.So far I've had a few other potential JV deals approach me and it seems like most people are getting deals under contract first and then reaching out for funding, but I'm wondering what happens if the investor has a deal under contract but fails to find sufficient funding for the project.

Keep things the way they are now and with all new tenants.Send out the proper notices allowing yourself sufficient time to replace tenants that for what ever reason choose to move.

One good source of residual income is sufficient if it is deversified.

FHA requires the property to qualify through what is called the Self Sufficiency equation, and it doesn't seem mentioned often how difficult that can be.  

The code section that applies is 55-248.6, which provides the definition of "notice":   "Notice" means notice given in writing by either regular mail or hand delivery, with the sender retaining sufficient proof of having given such notice, which may be either a United States postal certificate of mailing or a certificate of service confirming such mailing prepared by the sender.

All of the painting professionals we use say that flat is the way to go, but I'm wondering if this is because they know they are going to get a full paint when the tenants move out because after a year of living, there's no way just touching up will be sufficient.