@Gaetano Ciambriello it's important to note that this only applies to Fannie's likelihood of issuing an approval on the automated underwriting system.

Not sure what they are going to use as the income cutoff, but was told to apply for a low interest loan and if approved and income is under cutoff it will become a grant.

I may apply for the job.

The expressions, "you get what you pay for", and "you don't know what you don't know", really apply here. 

@Bill Brandt I was told the last 2 deals fell through due to financing. 1 buyer just couldn't get a down-payment and the other applied for a loan but failed to tell the lender it is a commercial property.

For example the house has a section that used to be a sunroom or screen porch and was added many years ago as part of the house and somehow none of this work was done with papers, also the basement was finished with a bathroom, kitchen and non-compliant bedroom but the entire basement is around 6’8” instead of 7” (minimum per code) so inspector is saying that the entire basement was not suppose to be finished and it sounds like he wants it all removed or to apply for a variance that he is letting me know upfront most likely wont be approved.

They'll have experience with this, dealing with tenants with disabilities, and any local laws that apply.  

., it seems these ethics do not apply to everyone. 

Second homes can be rented out as a STR with the rule being just under 6 months out of the year but again change of circumstance applies. 

Any tips or pointers to apply to make myself more "prepared" to be an investor would be great!