An exception would be where there has been storm damage necessitating a roof replacement so that negates the age of house consideration.

I have heard it multiple times on the podcast, if the numbers don't workout, don't pull the trigger!

A seller will give your FHA a lot more consideration if you are going to pay them a lot more money than a conventional or cash offer.

This theoretically triggers a default clause on the loan document, but as the mortgage will stay current, lets assume nothing happens.5.

Are you recommending to not take tax credits into consideration?

I don't make it mandatory, but I give a considerable discount on the rent if they use it.

An additional consideration is lead paint.

This can be determined by doing some very thorough DUE DILIGENCE before you pull the trigger. 

But, I would insist on a 5% down payment, a $200 per month rent premium that would go towards their equity, a fixed time to pull trigger and they get their own financing and also that they are now responsible for all repairs up to a set limit.

Not to mention that adds some considerable cost depending on the type of back-splash.