I would not approve that tenant. 

I've been approved for substantially bigger loans, with less reported income & was shocked. 

So an owner occupied triplex or fourplex wouldn't have an approved FHA loan?

If you need some loan officers to chat with and get a pre-approval, let me know!

First and foremost, the ENTIRE process relies on a successful appraisal so that you can get approved for the loan amount you need to meet all the numbers you crunched to cover all of the costs (purchase and rehab) of the home.

And i got a monsters zip line approved through the county and state..

Sending analysis to bank for pre-approval today.

Also, I highly encourage that you do not stop paying rent, that's a great way to ruin your credit and overall dispatch future lending approval. 

Once approved you get your letter of approval and can either find a HUD style home or a home that needs specific repairs. 

It’s one of the qualifying questions you have to answer on the Request for Tenancy Approval.