The main problem is PenFed allows applicants to own only three total properties (including primary) to qualify. 

The lower mortgage insurance premium is one of the main reasons we chose this lender. 

My main concern is if I can get a permit the entitlement for a home that currently has a mortgage?

., rental) use would not include any period after the last date that the property is used as the principal residence of the taxpayer or the taxpayer's spouse, so it essentially doesn't matter that it was a rental from December 2014 - June 2017 for purposes of the home sale gain exclusion since the last date you lived in the property as your principal residence was before you rented it out.Depreciation recapture is another story.

Here is an actual deal 123 main street, where we would offer X ... put in Y and make Z ... or rental 123 main street, make ready ____, rents for _______, and we would be netting ______. 4.

We are just starting out in real estate and are looking to mainly set up passive income, but not exclusively.  

BTW, I'm also in ministry and trying to build up my portfolio for the sameness purpose.

I called the local Habitat for Humanity but didn't know what department to talk to so left a message on their main line. 

Now because of all the people that attend they hold it in the main courtroom!

Howdy @Mike TaravellaReally the main concern I would have is not being too leveraged, but, what effect it has on my Cash Flow.