Even for owner occupants, the prices have dipped back to 2002 levels and the interest rates are at historic (HISTORIC I SAID) lows.

This is not working as the stock of housing they own is generally in bad condition and requires repair beyond the ability of the individual owner to fund.The Obama administration is stating two things:1) The government should not own individual properties that have been repossessed through foreclosure.2) They want to enact a program that encourages investors (as opposed to owner occupants HUD currently favors) to acquire these properties who can afford to rehabilitate them and then rent them or sell them.As an investor interested in acquiring a portfolio of rental properties, I'm curious to double-click into the details of the program and understand what exactly is being proposed.

They’ll also know the other paperwork required such as the 1003, TIL, credit reports, occupancy agreements, and an unbelievable host of others.Second, you might use as many standard Fannie Mae docs as possible to make a legal review easy.

The listing agent may have you work through another agent in their office in a back-scratching arrangement between them, that is fine and still puts you in a better position than coming in cold with your own agent.Talk to the listing agent during the owner/occupant period, and submit your offer just before the property enters the investor period, going in with a 'strong' offer as you're already planning.Understand and monitor DOM and interval of time from the last price drop.

Check occupancy and rental rate trends in your area.

Of course this is a subject I'm not expert in and need to learn more about, however my initial thoughts beyond addressing affordable housing and gentrification are injecting capital into those communities, improving access to education and occupational training, and encourage entrepreneurship.

So far the cons i have found are owner occupancy/ primary residence mandated, 180 day resell rule and no DIY option which would cut cost and build sweat equity. 

While simultaneously acquiring another FHA after my minimum 1 year occupancy is satisfied and repeating the process.

Seasonality is the higher and lower ADR and occupancy periods. 

Occupancy rates are also excellent with this strategy but in most months you do make a more on a short term rental at the expense of more time for managing it.