Otherwise it's in great condition, but it would not pass an FHA inspection. 4. 12 month rule - Typically, you cannot rent out a home that you have an FHA loan on until you have lived there for at least 12 months, unless you refinance to a conventional loan. 

While direct mail works, I get about 5 mailers each month on all of my properties and they typically go straight to the trash.

@Joe: If I may ask, what is the typical investment amount if you care to share that.

The triplex is completely occupied; how would I be able to utilize FHA financing with this scenario?

welcome my fellow Louisianian, wish you the best of luck within the BP community, please utilize the platform to spread your brand looking forward to hearing about the wonderful things that you have up your sleeve in the lake charles area!.....

An typically add 500-800 cash flow to SFR in certain areas.

@Ryan Van Fleet It is not unusual to see $650 though I think $500 - $550 is more typical. 

Madison has one that meets twice a month which you could check out at www.madisonreia.com  They have about 60 investors meet at any given meeting and typically about 10 brand new investors will peek their head in each month.

Here are my thoughts based on some avg #s$1980/2 = $495/mo x 4 units1 bed/1 bath units typically rent around $400/mo so my initial thoughts are how did they get almost $500/mo for these.Lets say you get $450/mo x 4 = $1800/moProperty Management - $180Taxes - $200Insurance - $100Water/trash - $200Vacancy - $180Repairs - $180Cap Ex - $100Total expenses -  $1140/moThat leaves you with about $660/mo before any mortgage etc....

Especially the 2 bedroom for $900I typically prefer guage using rentometer, fyi