Stayed patient and found my tennat.

Given the recent jump in rates, looks like even with a discounted payoff at 60% of UPB the borrower's monthly payment would basically stay the same, and that's assuming they're a well qualified borrower which is far from certain, as you pointed out.Will keep looking for my first deal but won't be this one.

The reason is I know which lenders:- do a good job- stay on top of the necessary tasks- know how to be creative within the rules (some people don't fit into the standard mold of a buyer, and some lenders don't know how to get them approved, and some lenders know how to get them approved)- and which lenders can actually close deals.Another reason is, when someone wants to house hack, not all lenders are experienced in it.

We’ve put in offers but a lot of condos either need to pass a survey by the lender or we need to put 25% down which would wipe out our second mortgage and most of our savings which I don’t feel comfortable doing.

And everyone else just stays put because they can't afford to move.

@Matt Clark - Yea, but the law allows regular US mail which I can do from the comfort of my office rather than driving across town to post notice on a door. 

I am comfortable with the neighborhood because I grew up in this area of town so I am familiar with the neighborhood and I know what I am getting myself into.

Staying in the home 2 years and then selling or leasing for tax breaks.

For me when dealing with investors it is staying true to my buyers list, and not deviating from that list.

It is comforting to see someone who has succeeded with an FHA loan (I know many more have).