Communities like Highland Creek are adopting different measures and requiring that a property MUST be owned for 12 months before it can be a rental. 

Broker Requirement: It seems like becoming a broker may be necessary to obtain a property management license.

Getting started here requires action above all, so don't spend so much time worrying about entities and taxes.

This marks a departure from the previous multifamily financing requirement of 15-25% down payments for duplexes, triplexes, and four-plexes."

There are a lot of "micro-skills" required: finding a great deal, forecasting returns accurately, financing it, hiring and managing contractors (difficult!)

It’s not a secret that real estate investing requires a keen eye for opportunity, a dash of risk-taking, and an adventurous spirit.

@Barrington SmithI use this equationto back into my maximum allowable offer (MAO)ARV - Rehab Costs -Holding Costs - Purchase & Sale Costs - Desired Profit as a percentage ofARV = MAO

Or put the 88k in, refi out of the HML which requires you to come out of pocket quite a bit of money as well, and hold it long term which on paper may eventually make you whole.

In fact, the law requires the landlord to maintain the home and your policy may not even be legal.

Best you can get would be 15% down as an investment property or if you can show proper intentions, you could call it a Vacation home which only requires 10% down as long as it is a (SFR - single family).